The Failure rate for start-ups is 90%: Here’s what one needs to know about the rest 10
An entrepreneur would know failure. He would know the mistakes that are liable to take place in the life of another entrepreneur. At the same time, he will also be knowledgeable about the sweet truths of success that enlightens a businessman’s life.With time, we’ve come to decipher some of the lesser-known reasons as to why start-ups fail and more importantly why only a few see the face of success.
The Numbers
It is almost a proven fact that 9 out of 10 startups do not succeed. It might be a hard and bleak truth but any entrepreneur or aspiring entrepreneur must concentrate on this fact like meditation. It might be that entrepreneurs even want to write their failure post-mortem much before they have launched their business.
These kind of cold statistics are obviously not intended to discourage entrepreneurs but to encourage working smarter and harder.
Conclusion
If your startup lasts, you’re lucky. You’ve been able to do something that 90% of new businesses haven’t. Even though there’s a lot of luck involved in the success stories like Google and Facebook, there are more humble reasons why other startups succeed. They have a product that meets a need, they don’t ignore anything, they grow fast, and they recover from the hard-knock startup life.
It is almost a proven fact that 9 out of 10 startups do not succeed. It might be a hard and bleak truth but any entrepreneur or aspiring entrepreneur must concentrate on this fact like meditation. It might be that entrepreneurs even want to write their failure post-mortem much before they have launched their business.
These kind of cold statistics are obviously not intended to discourage entrepreneurs but to encourage working smarter and harder.
Conclusion
If your startup lasts, you’re lucky. You’ve been able to do something that 90% of new businesses haven’t. Even though there’s a lot of luck involved in the success stories like Google and Facebook, there are more humble reasons why other startups succeed. They have a product that meets a need, they don’t ignore anything, they grow fast, and they recover from the hard-knock startup life.
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