Entrepreneurship is the key to the portals of individual's as well as nation's economic development. The path to success in entrepreneurship is invariably interspersed with lots of challenges and failures. Successful entrepreneurs are those who have converted these failures in to stepping stones for success. Like a phoenix, they rise from their ashes and fly higher. This book focuses on those psycho-social factors such as hardiness, optimism, self-efficacy, coping strategies, family support, etc. that would help an entrepreneur to move from one failure to another without losing the enthusiasm. Further, these factors help them to bounce forward and succeed in their entrepreneurial venture. Findings and recommendations of this study would be useful for venture capitalists, angel investors, banking sector, and government agencies to better understand and further promote entrepreneurial climate.