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Friday, January 23, 2009

Why 99% of Entrepreneurs Fail

I came across a very interesting post Why 99% of Entrepreneurs Fail: Because they don’t do anything . The post gives 3 types of entrepreneurs that are set for failure:

  1. All ideas, no implementation type of entrepreneurs
  2. Lots of ideas, half baked implementation type of entrepreneurs
  3. Lots of ideas, lots of implementation, but no focus type of entrepreneurs
If you are falling in any one of the categories then you better watch out! It's likely that your venture will fail.

Having said this, it doesn't mean that if you are a man with a great idea and lots of wonderful implementation and you are laser focused on your goal you will succeed. The sad truth is even though you do everything right, you might still fail. In fact, it is very likely that you will fail despite your best effort.

Why is this so? This is because the success of a venture depends more on timing and market condition rather than human's will. So, if you are starting your own business and are falling every time, don't be too harsh on yourself. Great people fail, and they fail despite doing no wrong. This is just a part of life.

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