The Main Reason Why Startups Fail
15 Jun 2020 · 1 min
1:00
Founders who refuse to quit are what actually make or break a startup, not money or the idea itself. Tenacity and the ability to pivot through uncertainty matter more than anything else.
Founders who refuse to quit are what actually make or break a startup, not money or the idea itself. Tenacity and the ability to pivot through uncertainty matter more than anything else.
The secret of entrepreneurship success is really like tenacity and perseverance, right? The number one failure or reason why companies fail is it's really when the founder gives up. It's not when you run out of money.
It's not when you, you know, when you run out of money so many times.
Exactly. But you never give up, right? Like you kind of figure it out. And sure, like there's optimal situations and there's less optimal situations. So There's a lot of uncertainty out there, but your job is to navigate through those treacherous waters, right? And that's part of being a leader, and that's part of the job you're signing up to be as a startup leader. And so, you know, we see that it's the founders themselves that are really like the unicorns and the people that are making big things happen, not necessarily the startup idea or the business opportunity. That will change, right? We know that that will— they'll pivot in the program, they'll pivot after the program. It's really about the core of who the founder is.
Yes.
And that's the most important thing.
