Start-Up: But what if it fails?

Well, since we all live in the real world, just like success, failure is also a part and parcel of life. I don’t think there is anyone in this world who has not tried and failed at something (whatever it be)…. that list includes Bill Gates, Mark Zuckerberg, Steve Jobs etc.…. and there are perhaps a million other people (who are perhaps not so famous, but are successful in their own way).

We’ve all read statistics on how low is the rate of successful startups, but then ask yourself this - Has that really deterred anyone from starting up….? No, not really, so the fact that some or most startups will fail would basically imply that if you too are starting up something new, it will also fail… now that sure doesn’t sound quite right.

However, there are certain caveats to success…. You need perseverance to succeed no matter what - so build a startup that makes sense, one that creates value, that is economically viable, which solves or improves an existing solution…. and in short makes life and things easy in the high tech world we live in. Now that’s quite a mouthful, but that’s only some of the basic parameters. You need to have your own benchmarks for success.



And I would like to believe the following....,

Failure makes you wiser and teaches you a lot of valuable lessons."

Failure could also make you lose hope or make you stronger than ever before. It’s entirely upto you on how you read it, so, go on and take the path less travelled and be risk taking… that’s how you will succeed….. but remember to take calculated risks.
One of the most important things to do before you startup is to meet as many people as you can to bounce off your idea. Their level of interest or lack thereof will be a good initial yardstick to gauge success, which will keep you motivated. The more holes are punched and questions asked, the better it is for you to think clearly.... and remember, spend on quality not quantity, hire or partner with the ‘right’ people as they are your most important assets, who will set you and your venture up for success. After all people are the greatest assets of any organisation, big or small.

Also, simply put, if you look at the word ‘Startup’ and separate it… the word ‘up’ is the key…. so if your startup fails, simply pick yourself ‘up’ and get on with it…. tweak your business model, get more advice, find new mentors, raise more money or whatever it is you need to succeed.., that’s the way I look at it and that’s how it should be. But Never Ever Ever Ever give up on something you have started.
Lastly, I leave you with this thought from Tom Kelley, a business consultant, author, public speaker and GM IDEO.

Fail often so you can succeed sooner