Over seventy percent of startups end up in the trash heap of history. I’ll explore how to increase your odds of staying off that heap of trash.
Ironic that I find so many people interested in pursuing a career path that has such a low probability of success. As an entrepreneur, you risk your time, your sanity, your money, and so much more on a long journey that typically ends really poorly. How often does it end poorly? Most estimates I’ve seen show that 70% of all businesses fail within 10 years.
As a long time entrepreneur and a VC that backs entrepreneurs, my strategy is primarily focused on how to improve your odds of success. In other words, how do you become the 30% of companies that succeed and not the 70% of those that fail? All of the reasons for failure are painfully obvious yet are often ignored.
Over time, I’ll be writing a blog post on each of the top reasons companies fail. In the meantime, here are a couple of great articles covering Why Startups Fail:
CB Insights Startup Failure Reasons
Entrepreneur’s Why Some Startups Succeed (and Why Most Fail)