Not exact matches
If half of businesses
fail in the first five years, what are the
other half doing right and what can
entrepreneurs learn from them?
Among
other books with similar themes, he states: «The IRS has no interest in your business
failing... the tax codes are set up for
entrepreneurs, not their employees.
One of the dangers of business is that we often spend so much time molding our approach after
other successful
entrepreneurs and businesses that we
fail to remember the importance of being unique and original.
If things do fall apart, he says he'll try to internalize the advice he tells
other entrepreneurs: «You didn't
fail, your business didn't succeed.
And I've seen
other entrepreneurs fail.
Previously, he had launched each of his startups to capture opportunities, but he kept
failing, because
other entrepreneurs wanted those same opportunities more than he did.
An
entrepreneur I know well
failed at several startups, one after the
other — until he discovered the power of revenge and a thirst for recognition.
Why do some
entrepreneurs succeed... and
others fail?
But in
other cases the asking prices of the
entrepreneurs and the offers of their potential acquirers have
failed to line up.
Every startup founder rightfully starts out as the single leader of the startup, but as the business grows, many
entrepreneurs struggle with relinquishing any control, or
fail to recognize and allow
other leaders to emerge.
Many
entrepreneurs have started businesses using credit cards after all
other attempts at securing funding
failed.
Remember that more than half of businesses
fail within a year because of impatient
entrepreneurs and
other factors.
Similarly, a
failed entrepreneur might explore how skills learned in starting a business could be applied in a corporate setting, take standardized exams to be considered for law school or engage in
other low risk exploration activities.
Like
other founders and
entrepreneurs, Wu, who has an economics degree from Peking University, is also predisposed to a
fail - fast mentality, one at odds with developers who favor a security - minded approach.