Start Up failures, what really ARE the numbers

If you’re beginning to consider being a startup entrepreneur, you’ve often hear that 70-80% of the start ups fail in the first year and the next large bunch fail in year two so that most fail within their five years. At least, that’s what we all hear. But what is really behind these numbers.

Let’s take John C. Maxwell’s book “Failing Forward” and see where these first numbers come to. When he asked a number of millionaires how many times did it take for them to become successful the average number of failures was around five!!

So that means that while most small businesses fail, the business owners keep on trying and moving forward!!!

So, it’s not the failure that is the issue, but how you look at the failure. Do you:

Dwell on your failure and keep harking back to your failure?

Deal with the failure by learning from your mistakes and moving on?

Deny your failure and blame everyone else for your string of bad luck?

If you are in the middle of the road camp and deal with it, then you’re not a failure.

Keep on pressing on.

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2 thoughts on “Start Up failures, what really ARE the numbers

  1. I find that most people fall into denial instead of refocusing their efforts and dealing with the issues.

    How was “Falling Forward”? Would you recommend it as a good read for learning from failures?

    • The reason why most people are in denial is because they (and their parents and friends) look at failure as “I’m/he’s a failure” rather than, “It’s a failure.” They take it WAY to personally rather than the TRUE view of each action taken as “testing, one, two, three, testing!” If we look at success COMING from failure, then just around the bend from failure is success, so keep going. But keep in mind that insanity is doing the same thing over and over expecting different results. That means we need to change something in order to achieve success, not being persistent in our failing actions.

      Absolutely I recommend “Failing Forward,” but I also recommend “Think and Grow Rich,” “Getting to Plan B,” and especially “Now Discover Your Strengths.” Anytime you learn something more about yourself, others, and what you’re trying to achieve is a worthwhile endeavor. Just don’t stop learning.

      Thanks for the comments.

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