When I heard a friend make the statement “Your startup can’t fail if you don’t quit,” I realized that every entrepreneur should adopt it as their mantra. Pivoting or dealing a new hand is not quitting. If we all take this mantra, we can drastically improve the statistic that over half of new startups fail within five years. Nothing is more discouraging to future entrepreneurs than a failed startup.
Why do most startups fail? There are a thousand reasons listed by pundits across the media, but most of them agree that the number one reason is NOT running out of money. The number one reason is that the founder quits. Of course, they may be quitting because they ran out of money, but good entrepreneurs tell me that running out of money is most often an “excuse” rather than a “reason.”
To read the full, original article click on this link: Startup Professionals Musings: There Are Alternatives When Your Startup Falters
Author:MartinZwilling
