I am going to go out on a limb here, and I fear I may offend a few people. While that isn't my point, if you find my thoughts offensive, then e-mail me and sound off. I would be happy to read your opinion.

In this column, the authors - myself included - tend to lean toward the positive. The message to entrepreneurs is usually: "You can do it!" But the stark reality is that you probably won't do it - at least not the first time you try.

Most people with business ideas fail at creating a successful business. The majority of these failures are actually more like "never-starters." So if you are actually in business you have overcome the major hurdle: getting out and actually doing something.

I don't mean to be a doomsayer, but the reality is there are major obstacles to creating a successful business, and the odds are relatively high that one of these roadblocks will get you.

Most successful entrepreneurs cite experience with at least one business failure before hitting a success. And that's OK. Remember: "If it doesn't kill you, it will make you stronger." The right approach to business failure is to view it as another notch on your business belt. Learn from your mistakes and go at it again.

But in my opinion, too many entrepreneurs fail in the wrong way. All too often entrepreneurs let their businesses fail without regard to the other companies and individuals that have trusted in them.

Utah currently has the highest bankruptcy rate in the country. Can you believe that? Bankruptcy is not noble. I believe it is often a misused tool for entrepreneurs (and, for that matter, non-entrepreneurs). Please don't misunderstand what I am saying. I believe bankruptcy holds an important place in society; however, some entrepreneurs are willing to sell out their reputation and integrity to take the relatively easy road of bankruptcy when the problem could have been avoided long before that point.

Entrepreneurs need to have the drive to push through any obstacle that comes before them. However, when they know their company is going to fail, the entrepreneur has a responsibility to stakeholders to fail fast. They should not continue to engage in business with other individuals and companies that are working with them in good faith.

A few years ago, an entrepreneur told me that he was financially insolvent. But he indicated that he would continue to borrow money as long as he could even though he was likely to file for bankruptcy anyway. In other words, he was borrowing money knowing full well that he would never pay it back. In my opinion, that is theft.

This particular entrepreneur did ultimately file bankruptcy, and, as a result, many companies and individuals who made good-faith loans to him for his business and personal affairs lost tens of thousands of dollars. Without a doubt, this entrepreneur failed in the wrong way, and he ultimately lost much more than just his good credit score.

On the other hand, I know an entrepreneur whose business failed, and he felt a moral obligation to those people who had invested in him and his business. While he lost his house and many of his possessions, he worked hard over the next several years to pay back every one of his debts. This man failed the right way, and, with his integrity intact, he is still respected by those who initially invested in him.

Work as hard as you can to avoid failure. However, if failure is imminent, fail in the right way. In the long run, you will be a much better person for it.