Why do startups fail? The reasons are pretty obvious and easy to highlight. VCDave does a good job of listing them:
Oddly enough, however, while pointing out failure factors is relatively easy, truly determining what makes for a successful startup is pretty much two parts art and one part science. I dumb it down to a combination of the following variables:
- vision
- ambition
- execution
- luck
- timing
But I credit persistence/determination/tenacity as the #1 driver for success because invariably without persistence/determination/tenacity you will hit walls and fail.
If my English were any better, I’d pick one of those three words, but you get the idea.
John Furrier has some good advice too, I agree about maintaining control. So much of our days would otherwise be spent on useless arguments and wasteful discussion. The truth is most people are not sincere and don’t see the forest through the trees, so they argue over personal and petty things. If you have control and can cut through the turf-protecting BS, you can win.
More importantly, you can move quickly to jump on opportunities and fix mistakes quickly.
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