Author: Martin Zwilling, CEO.
Original article:.
http://blog. startupprofessionals. com/2010/08/your-startup-cant-fail-if-you-dont-quit. html.
Do not throw your startup!.
When the other day I heard that phrase from my friend, I realized that every entrepreneur needs to repeat it as ... I myself am doing so now. If we do so all we can radically improve the present statistics, when more than half of startups die within the first 5 years. Nothing is more depressing entrepreneur in the future, as a failed startup.
Why do the majority of startups die? . The number one reason is that the founder of a startup throws. Of course, he may do so because of lack of money, but experienced entrepreneurs say that the lack of money is more of an excuse than a real reason.
Let's take a look at the basic explanation of failure of startups and offer an alternative to simply give up:.
... This means that you have lost enthusiasm for the current business model, perhaps because someone invited you to change the original concept to simplify it or make it more profitable. My suggestion: to transform the idea into a current, which would you prefer. This is better than to throw it and become an employee, what you never wanted.
... If you can not raise their own company, find a partner, friend, relative, not necessarily a professional investor to share the financial burden. If not, look for a loan from suppliers, manufacturers, even for future buyers. Try to get what you need to barter for their services. I have seen countless creative solutions to shortages of working capital by people who did not want to throw.
... We all make mistakes sometimes in people. And you, too, adopted a series of unfortunate decisions on choice of partners or employees. So now is the time to do it right up and get rid of people who do not fit. This is better than to let them destroy your startup. The sooner you do this, the happier you will be and they.
... If you knew all that and how to do, and easily could have done this, you would be bored ( go back to the n. 1 ). Millions of people around the world are engaged in business. For this role does not require any innate qualities in excess of normal intelligence. Half the fun in learning, so that the start and do not hesitate to seek help.
... Large markets are rarely mature out of nothing. Every employer must either create a market, or differentiate their product to get into the existing market. All the startups that I know a few times to adjust, and sometimes completely reworked our product, rather than to throw.
... Perhaps this is a good reason to stop the rapid growth and focus on the natural development, but certainly not the reason for throwing a startup. You just have something interesting, otherwise the growth would have been your problem. Get back to basics, consult a financial or managerial assistance, failure - this is not your option.
Another important point. Even if you recognize your startup failed, do not let it upset you too much. Most people recognize that we learn more on their failures than successes. From the good, the investors told me that they are wary of financing an entrepreneur, never tolerated failure ( according to him ), because it leads to a self-confident and unrealistic view of future expectations.
In - general, my view is that a new business venture is similar to the rest. Nothing important is not simply given, and we all stumble many times on the way, as the learning. The only permissible when trying to leave, it's really the face of compelling circumstances, in order to succeed in the future. And this is not a failure.
Translated for the blog. dennydov. blogspot. com.
Paul Altman. @ pavelaltman.
Permission is granted to copy this material, indicating a hyperlink to the source:. http://dennydov. blogspot. com /.
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