Startup Failure Quotes

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Demand is one of those factors which decide the fate of your business.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
If you have a great idea, let nothing stop you from bringing it to life.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
When you start seeing your product as your customer’s product and not as your product, you will start seeing all the missing gaps.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
There can’t be anything more fatal to a business than making decisions based on somebody else’s assumptions.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
It’s wonderful to dream big but you still have to be realistic.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
Launching a similar product still needs some kind of differentiation.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
Your business idea can wait but don’t enter a market without enough expertise and experience.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
The process of decision-making can become efficient and effective, if the right information is handy on time.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
Being successful is not that tough, you just need a little mindset change.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
You don’t want to run your business based on mere suspicions and assumptions.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
Business growth happens when people remember you.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
A successful business owner will know their business as good as they know their favorite celebrity, their partner, and even their dogs.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
The future of your business depends on what kind of decisions you are going to make.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
The fear of the unknown is deadly for our personal growth as well as for the growth of our business.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
Perfecting a product which is not selling is a waste of time and energy.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
An idea gains value when you take action to bring it to life.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
Become a leader that shows humility and not stubbornness.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
Search engines' results aren’t always trustworthy. As a matter of fact, they can be easily manipulated.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
Accepting that you’re wrong, shows humility which will set a better example of you as a leader on your team than sticking to something that others can clearly see is wrong.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
While Uber was more a business-like limo car sharing, Lyft was more casual. Though with time, that distinction has become less prominent, but this definitely helped them in the starting stage.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
When it comes to riding a trend for business growth, there are three important steps that we should always remember: data analysis, trend identification, and fast and effective decision making.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
Fail soon so that you can succeed sooner.
Amit Kalantri (Wealth of Words)
Today it is cheaper to start a business than tomorrow.
Amit Kalantri (Wealth of Words)
Here’s some startup pedagogy for you: When confronted with any startup idea, ask yourself one simple question: How many miracles have to happen for this to succeed?
Antonio García Martínez (Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley)
Poor distribution - not product - is the number one cause of failure.
Gabriel Weinberg (Traction: A Startup Guide to Getting Customers)
Failure is a prerequisite to learning.
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
it is a story not just of talent but of tenacity, of insatiable questioning of authority, of determined informality, combined with a unique attitude toward failure, teamwork, mission, risk, and cross-disciplinary creativity.
Dan Senor (Start-up Nation: The Story of Israel's Economic Miracle)
Perfection is born of imperfection.
Richie Norton
Most startup failures result from entrepreneurs who are better at making excuses than products.
Jay Samit (Disrupt You!: Master Personal Transformation, Seize Opportunity, and Thrive in the Era of Endless Innovation)
Success doesn't teach as many lessons as failure
Jay Samit
Writing and achieving your goals is not failure, not having a goal to write in the first place is the start of failure.
Onyi Anyado
The greatest risk—and hence the greatest cause of failure—in startups is not in the development of the new product but in the development of customers and markets. Startups
Steve Blank (The Four Steps to the Epiphany: Successful Strategies for Startups That Win)
Be brave enough to try something new; you might just succeed.
Stacey Kehoe
Pursuing a rapid experiment and finding out you were wrong and changing directions isn’t failure. That is the road to success.
Nathan Furr (Nail It then Scale It: The Entrepreneur's Guide to Creating and Managing Breakthrough Innovation: The lean startup book to help entrepreneurs launch a high-growth business)
One who doesn't recognise an opportunity is bigger loser than one who tries his hand at an opportunity.
Amit Kalantri (Wealth of Words)
Just get on with starting, the worst and the most surprising thing to ever expect is short term failure.
Olawale Daniel (10 Ways to Sponsor More Downlines in Your Network Marketing Business)
Most intelligent people fail because of their lack of desire to achieve something by using their intelligence.
Anuj Jasani
Why fear feedback? Why stigmatize failure in the workplace when it’s bringing you closer to achieving your organizational goals.
Kevin Kelly (DO! The Pursuit of Xceptional Execution)
There is a difference between failing and failure. Failing is trying something that you learn doesn't work. Failure is throwing in the towel and giving up.
Jay Samit (Disrupt You!: Master Personal Transformation, Seize Opportunity, and Thrive in the Era of Endless Innovation)
Investors are people with more money than time. Employees are people with more time than money. Entrepreneurs are simply the seductive go-betweens. Startups are business experiments performed with other people’s money. Marketing is like sex: only losers pay for it.” “Company culture is what goes without saying. There are no real rules, only laws. Success forgives all sins. People who leak to you, leak about you. Meritocracy is the propaganda we use to bless the charade. Greed and vanity are the twin engines of bourgeois society. Most managers are incompetent and maintain their jobs via inertia and politics. Lawsuits are merely expensive feints in a well-scripted conflict narrative between corporate entities. Capitalism is an amoral farce in which every player—investor, employee, entrepreneur, consumer—is complicit.
Antonio García Martínez (Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley)
Here is a key insight for any startup: You may think yourself a puny midget among giants when you stride out into a marketplace, and suddenly confront such a giant via litigation or direct competition. But the reality is that larger companies often have much more to fear from you than you from them. For starters, their will to fight is less than yours. Their employees are mercenaries who don’t deeply care, and suffer from the diffuse responsibility and weak emotional investment of a larger organization. What’s an existential struggle to you is merely one more set of tasks to a tuned-out engineer bored of his own product, or another legal hassle to an already overworked legal counsel thinking more about her next stock-vesting date than your suit. Also, large companies have valuable public brands they must delicately preserve, and which can be assailed by even small companies such as yours, particularly in a tight-knit, appearances-conscious ecosystem like that of Silicon Valley. America still loves an underdog, and you’ll be surprised at how many allies come out of the woodwork when some obnoxious incumbent is challenged by a scrappy startup with a convincing story. So long as you maintain unit cohesion and a shared sense of purpose, and have the basic rudiments of living, you will outlast, outfight, and out-rage any company that sets out to destroy you. Men with nothing to lose will stop at nothing to win.
Antonio García Martínez (Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley)
Entrepreneurs who kept their day jobs had 33 percent lower odds of failure than those who quit. If you’re risk averse and have some doubts about the feasibility of your ideas, it’s likely that your business will be built to last. If you’re a freewheeling gambler, your startup is far more fragile.
Adam M. Grant (Originals: How Non-Conformists Move the World)
learning” is the oldest excuse in the book for a failure of execution.
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
it is not an exaggeration to state that any company designed for success in the twentieth century is doomed to failure in the twenty-first.
David S. Rose (Angel Investing: The Gust Guide to Making Money and Having Fun Investing in Startups)
They had “achieved failure”—successfully, faithfully, and rigorously executing a plan that turned out to have been utterly flawed.
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
But those start-up founders don’t hide their failures; to the contrary, they flaunt them—blogging about them, gathering to talk about them at conferences like FailCon.
Jess Bennett (Feminist Fight Club: An Office Survival Manual for a Sexist Workplace)
Like most company failures, it had happened slowly and then all at once. A
Doree Shafrir (Startup)
Timing is everything, if you wait for the right time, time will leave you at the same place.
Anuj Jasani
I don't play safe because I'm not immortal.
Anuj Jasani
fundamental nature of success: it’s hidden among failures.
Peter Tompkins (Entrepreneur 5 P.M. to 9 A.M.: Launching a Profitable Start-Up without Quitting Your Job)
achieving failure: successfully executing a plan that leads nowhere.
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
FAILURE IS NOT AN OPTION. Nobody in the startup world could have such a mug, I mused; it would be ridiculous. My experience is full of situations where reality proved too unpredictable to avoid failure.
Eric Ries (The Startup Way: How Modern Companies Use Entrepreneurial Management to Transform Culture and Drive Long-Term Growth)
After more than ten years as an entrepreneur, I came to reject that line of thinking. I have learned from both my own successes and failures and those of many others that it’s the boring stuff that matters the most. Startup success is not a consequence of good genes or being in the right place at the right time. Startup success can be engineered by following the right process, which means it can be learned, which means it can be taught.
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
In expert tennis, 80% of the points are won, while in amateur tennis, 80% are lost. The same is true for wrestling, chess, and investing: Beginners should focus on avoiding mistakes, experts on making great moves.” Erik Falkenstein
Lucas Carlson (Finding Success in Failure: True Confessions From 10 Years of Startup Mistakes)
Most businesses get zero distribution channels to work: poor sales rather than bad product is the most common cause of failure. If you can get just one distribution channel to work, you have a great business. If you try for several but don’t nail one, you’re finished.
Peter Thiel (Zero to One: Notes on Startups, or How to Build the Future)
What differentiates the success stories from the failures is that the successful entrepreneurs had the foresight, the ability, and the tools to discover which parts of their plans were working brilliantly and which were misguided, and adapt their strategies accordingly.
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
Third, many entrepreneurs are afraid. Acknowledging failure can lead to dangerously low morale. Most entrepreneurs’ biggest fear is not that their vision will prove to be wrong. More terrifying is the thought that the vision might be deemed wrong without having been given a real chance to prove itself.
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
If you put junk in, you’re going to get junk out; but if you find inspiration, you’re going to come up with things that you would never think of otherwise. Your lungs breathe even when you don’t think about it. Your heart pumps without your help. Your brain is working on ideas and solutions even when you don’t realize it.
Lucas Carlson (Finding Success in Failure: True Confessions From 10 Years of Startup Mistakes)
In the start-up world, you’re not taken seriously if you haven’t had at least one colossal failure. The unofficial motto in Silicon Valley is “Fail early and often.” Almost no one gets it right the first, second, or even third time. Failure is baked into the innovation process; it’s how they learn what doesn’t work so they can home in on what does.
Reshma Saujani (Brave, Not Perfect: How Celebrating Imperfection Helps You Live Your Best, Most Joyful Life)
Entrepreneurs who kept their day jobs had 33 percent lower odds of failure than those who quit. If you’re risk averse and have some doubts about the feasibility of your ideas, it’s likely that your business will be built to last. If you’re a freewheeling gambler, your startup is far more fragile. Like the Warby Parker crew, the entrepreneurs whose companies topped Fast Company’s recent most innovative lists typically stayed in their day jobs even after they launched. Former track star Phil Knight started selling running shoes out of the trunk of his car in 1964, yet kept working as an accountant until 1969. After inventing the original Apple I computer, Steve Wozniak started the company with Steve Jobs in 1976 but continued working full time in his engineering job at Hewlett-Packard until 1977. And although Google founders Larry Page and Sergey Brin figured out how to dramatically improve internet searches in 1996, they didn’t go on leave from their graduate studies at Stanford until 1998. “We almost didn’t start Google,” Page says, because we “were too worried about dropping out of our Ph.D. program.” In 1997, concerned that their fledgling search engine was distracting them from their research, they tried to sell Google for less than $2 million in cash and stock. Luckily for them, the potential buyer rejected the offer. This habit of keeping one’s day job isn’t limited to successful entrepreneurs. Many influential creative minds have stayed in full-time employment or education even after earning income from major projects. Selma director Ava DuVernay made her first three films while working in her day job as a publicist, only pursuing filmmaking full time after working at it for four years and winning multiple awards. Brian May was in the middle of doctoral studies in astrophysics when he started playing guitar in a new band, but he didn’t drop out until several years later to go all in with Queen. Soon thereafter he wrote “We Will Rock You.” Grammy winner John Legend released his first album in 2000 but kept working as a management consultant until 2002, preparing PowerPoint presentations by day while performing at night. Thriller master Stephen King worked as a teacher, janitor, and gas station attendant for seven years after writing his first story, only quitting a year after his first novel, Carrie, was published. Dilbert author Scott Adams worked at Pacific Bell for seven years after his first comic strip hit newspapers. Why did all these originals play it safe instead of risking it all?
Adam M. Grant (Originals: How Non-Conformists Move the World)
If you make a mistake, don’t spend precious time and energy trying to deny it or point the finger at someone else. Be a leader and own it, then spend your time and energy fixing the problem. As I’ve already noted, start-ups often fail because founders want to be seen as the smartest person in the room, which means not being wrong. Making a mistake is going to happen. None of us is perfect. But the difference between success and failure is how you handle that mistake
Ziad K. Abdelnour
A video game can be created and never make it through research and development. Or else it comes out and no one wants to play it. Yes, video-game creators who’ve had successes are greatly valued. But those who’ve had failures are valued, too—sometimes even more so. Start-up companies often prefer to hire a chief executive with a failed start-up in his or her background. The person who failed often knows how to avoid future failures. The person who knows only success can be more oblivious to all the pitfalls. Experience
Randy Pausch (The Last Lecture)
There is an enormous difference between starting a company and running one. Thinking up great ideas, which requires mainly intelligence and knowledge, is much easier than building an organization, which also requires measures of tenacity, discipline, and understanding. Part of the reason that nineteen out of twenty high-tech start-ups end in failure must be the difficulty of making this critical transition from a bunch of guys in a rented office to a larger bunch of guys in a rented office with customers to serve. Customers? What are those?
Robert X. Cringely (Accidental Empires: How the Boys of Silicon Valley Make Their Millions, Battle Foreign Competition, and Still Can't Get a Date)
When a new company is formed, its founders must have a startup mentality—a beginner’s mind, open to everything because, well, what do they have to lose? (This is often something they later look back upon wistfully.) But when that company becomes successful, its leaders often cast off that startup mentality because, they tell themselves, they have figured out what to do. They don’t want to be beginners anymore. That may be human nature, but I believe it is a part of our nature that should be resisted. By resisting the beginner’s mind, you make yourself more prone to repeat yourself than to create something new. The attempt to avoid failure, in other words, makes failure more likely.
Ed Catmull (Creativity, Inc.: an inspiring look at how creativity can - and should - be harnessed for business success by the founder of Pixar)
It is best to be the CEO; it is satisfactory to be an early employee, maybe the fifth or sixth or perhaps the tenth. Alternately, one may become an engineer devising precious algorithms in the cloisters of Google and its like. Otherwise, one becomes a mere employee. A coder of websites at Facebook is no one in particular. A manager at Microsoft is no one. A person (think woman) working in customer relations is a particular type of no one, banished to the bottom, as always, for having spoken directly to a non-technical human being. All these and others are ways for strivers to fall by the wayside — as the startup culture sees it — while their betters race ahead of them. Those left behind may see themselves as ordinary, even failures.
Ellen Ullman (Life in Code: A Personal History of Technology)
Here’s some startup pedagogy for you: When confronted with any startup idea, ask yourself one simple question: How many miracles have to happen for this to succeed? If the answer is zero, you’re not looking at a startup, you’re just dealing with a regular business like a laundry or a trucking business. All you need is capital and minimal execution, and assuming a two-way market, you’ll make some profit. To be a startup, miracles need to happen. But a precise number of miracles. Most successful startups depend on one miracle only. For Airbnb, it was getting people to let strangers into their spare bedrooms and weekend cottages. This was a user-behavior miracle. For Google, it was creating an exponentially better search service than anything that had existed to date. This was a technical miracle. For Uber or Instacart, it was getting people to book and pay for real-world services via websites or phones. This was a consumer-workflow miracle. For Slack, it was getting people to work like they formerly chatted with their girlfriends. This is a business-workflow miracle. For the makers of most consumer apps (e.g., Instagram), the miracle was quite simple: getting users to use your app, and then to realize the financial value of your particular twist on a human brain interacting with keyboard or touchscreen. That was Facebook’s miracle, getting every college student in America to use its platform during its early years. While there was much technical know-how required in scaling it—and had they fucked that up it would have killed them—that’s not why it succeeded. The uniqueness and complete fickleness of such a miracle are what make investing in consumer-facing apps such a lottery. It really is a user-growth roulette wheel with razor-thin odds. The classic sign of a shitty startup idea is that it requires at least two (or more!) miracles to succeed. This was what was wrong with ours. We had a Bible’s worth of miracles to perform:
Antonio García Martínez (Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley)
proper legal structure. The best structure is that of the Mondragon companies, which do not allow workers to own a tradable share of equity. Instead, in addition to their wages they each have an internal capital account the value of which depends on the business’s performance and on the number of hours the member works. A new member has to pay a large entrance fee, most of which is credited to his internal account. He receives interest at the end of every fiscal year, but he cannot withdraw the annually accumulating principal from his account until retirement. Almost all profits are divided between these individual accounts and a collective account that helps ensure the company’s survival. No buying or selling of shares takes place in this scheme, so it’s difficult for the firm to lose its worker-controlled status. Not until 1982, however, did the internal-capital-accounts legal structure exist in the United States (and then only in Massachusetts); prior to that, worker cooperatives had to make convoluted use of other categories, which sometimes made them vulnerable to degeneration.113 In any case, the survival rates of contemporary cooperatives put the lie to traditional theories of cooperatives’ unsustainability, for they appear to have higher rates of survival than conventional firms. During the 1970s and early 1980s, the death rate for co-ops in France (due either to dissolution or to conversion into a capitalist firm) was 6.9 percent; the comparable rate for capitalist competitors was 10 percent. A study in 1989 found much higher failure rates for capitalist companies than cooperatives in North America.114 A study conducted by Quebec’s Ministry of Industry and Commerce in 1999 concluded that “Co-op startups are twice as likely to celebrate their 10th birthday as conventionally owned private businesses.”115 A later study by the same organization found that “More than 6 out of 10 cooperatives survive more than five years, as compared to almost 4 businesses out of 10 for the private sector in Québec and in Canada in general. More than 4 out of 10 cooperatives survive more than 10 years, compared to 2 businesses out of 10 for the private sector.”116
Chris Wright (Worker Cooperatives and Revolution: History and Possibilities in the United States)
It is the principal antidote to the lethal problem of achieving failure: successfully executing a plan that leads nowhere.
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
With federal and state money drying up, research universities are increasingly trying to monetize their own intellectual property for revenue. In 2012, universities collectively generated $2.6 billion from their patents, a 6.8 percent jump from the previous year, according to the Association of University Technology Managers. Napolitano, of course, knows all of this. The University of California, especially its Berkeley and Los Angeles campuses, includes some of the biggest players in converting research into licensing fees and startups that might go public or be acquired. Witness the uptick in university-run incubators in the Bay Area. But someone must do the research that leads to those technologies that eventually hit the market, she said. When Napolitano first joined the University of California, one of her top priorities was to increase efficiency - to do more with less. But over time she came to realize that research is anything but efficient. But that's a good thing. "The grace note of basic research is failure," Napolitano said. "It's what doesn't work that leads to unexpected breakthroughs." There is nothing inherently wrong with seeking profit from innovation. But we must first understand that innovation starts when scientists ask how and why. Basic research "is where the action is," she said.
Anonymous
Rule No. 3: Failure is an Integral Part of the Search
Steve Blank (The Startup Owner's Manual: The Step-By-Step Guide for Building a Great Company)
90% of Startups fail. Come in to be the 90% until we shift to rest 10%. ;)
Prerak Trivedi
My major goal in business was to learn. I had legislated in my mind for failure the worse possible scenario was I would learn a lot regardless of the outcome. This goal was the foundation for success of the business. Peldi, Balsamiq
Kevin Kelly DO the pursuit of xceptional execution
Amidst all the hype and hoopla around this business, I wanted to emphasize the challenge—it is seductive but the failure rate is very high. And those who fail have no good place to go.
Mahendra Ramsinghani (The Business of Venture Capital: Insights from Leading Practitioners on the Art of Raising a Fund, Deal Structuring, Value Creation, and Exit Strategies)
Unfortunately, “learning” is the oldest excuse in the book for a failure of execution. It’s what managers fall back on when they fail to achieve the results we promised.
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
Most businesses get zero distribution channels to work: poor sales rather than bad product is the most common cause of failure.
Peter Thiel (Zero to One: Notes on Startups, or How to Build the Future)
the failure of early startup initiatives is predictable, so that failure should be built into the process rather than treated as a crisis when it happens.
Matt Blumberg (Startup CEO: A Field Guide to Scaling Up Your Business (Techstars))
It’s fine to celebrate success but it is more important to heed the lessons of failure.” Bill Gates
Dan Norris (The 7 Day Startup: You Don't Learn Until You Launch)
The greatest risk—and hence the greatest cause of failure—in startups is not in the development of the new product but in the development of customers and markets.
Steve Blank (The Four Steps to the Epiphany: Successful Strategies for Startups That Win)
startups go from failure to failure.
Steve Blank (The Startup Owner's Manual: The Step-By-Step Guide for Building a Great Company)
poor sales rather than bad product is the most common cause of failure.
Peter Thiel (Zero to One: Notes on Startups, or How to Build the Future)
To be a startup, miracles need to happen. But a precise number of miracles. Most successful startups depend on one miracle only. For Airbnb, it was getting people to let strangers into their spare bedrooms and weekend cottages. This was a user-behavior miracle. For Google, it was creating an exponentially better search service than anything that had existed to date. This was a technical miracle. For Uber or Instacart, it was getting people to book
Antonio García Martínez (Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley)
Competing on price is what leaves most startup brands bankrupt
Bernard Kelvin Clive
The psychological cost of startup failure has been found to be almost similar to emotions of losing someone important. The grief experienced is often accompanied with panic attacks, anxiety, phobias, anger and in some cases can lead to exhaustion, high blood pressure, insomnia and weight loss. The
Samir Rath (No Startup Hipsters)
This is a classic case of “achieving failure”—successfully executing a flawed plan.
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
The fragility of every startup is necessary for the economy to be antifragile, and that’s what makes, among other things, entrepreneurship work: the fragility of individual entrepreneurs and their necessarily high failure rate.
Nassim Nicholas Taleb (Antifragile: Things That Gain From Disorder)
I learned a very valuable lesson from my failure to launch. That lesson is: “You don’t learn until you launch.” My First Business  The term “business” can mean different things to different people.
Dan Norris (The 7 Day Startup: You Don't Learn Until You Launch)
Don’t Be Afraid to Fail When I was growing up, my dad would encourage my brother and me to fail. We would be sitting at the dinner table and he would ask, “So what did you guys fail at this week?” If we didn’t have something to contribute, he would be disappointed. When I did fail at something, he’d high-five me. What I didn’t realize at the time was that he was completely reframing my definition of failure at a young age. To me, failure means not trying; failure isn’t the outcome. If I have to look at myself in the mirror and say, “I didn’t try that because I was scared,” that is failure.
David S. Kidder (The Startup Playbook: Secrets of the Fastest-Growing Startups from their Founding Entrepreneurs)
you’ve never experienced a failure like this, it is hard to describe the feeling. It’s as if the world were falling out from under you. You realize you’ve been duped. The stories in the magazines are lies: hard work and perseverance don’t lead to success. Even worse, the many, many, many promises you’ve made to employees, friends, and family are not going to come true. Everyone who thought you were foolish for stepping out on your own will be proven right. It wasn’t supposed to turn
Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses)
Success is not final, failure is not fatal: it is the courage to continue that counts. — Sir Winston Churchill
Alistair Croll (Lean Analytics: Use Data to Build a Better Startup Faster (Lean (O'Reilly)))
One of the biggest causes of early-stage business failure is lack of real buyers hungry for your solution.
Rand Fishkin (Lost and Founder: A Painfully Honest Field Guide to the Startup World)
Private companies, especially startups, are very risky investments. The 90 percent failure rate keeps most types of investors away from the field.
Rand Fishkin (Lost and Founder: A Painfully Honest Field Guide to the Startup World)
If you’re a founder, make a list of the previous successes and failures you’ve had in your career, and of the elements of running a business with which you’re familiar and comfortable. Chances are high that your weaknesses will be the items not on that list.
Rand Fishkin (Lost and Founder: A Painfully Honest Field Guide to the Startup World)
Những kẻ không độc quyền thường nói dối ngược lại: "Chúng tôi đang trong cuộc chơi của chính mình". Doanh nhân luôn bị định kiến là xem nhẹ quy mô sự cạnh tranh, nhưng đó chính là lỗi lớn nhất mà một doanh nghiệp khởi nghiệp mắc phải. Sai lầm chết người là xem thị trường của bạn cực hẹp để bạn có thể thống trị nó.
Peter Thiel (Zero to One: Notes on Startups, or How to Build the Future)
There was a case study done on 50 different products to compare the failure rate amongst the startups, who were the first movers, i.e., who created an entirely new product or market, and the improvers who introduced something different and better than the original movers. The study concluded that the first movers had an average failure rate of 47%, as compared to the improvers, whose failure rate was 8% only.
Som Bathla (Think Out of The Box: Generate Ideas on Demand, Improve Problem Solving, Make Better Decisions, and Start Thinking Your Way to the Top)
Research and development conducted by private companies in the United States has grown enormously over the past four decades. We have substantially replaced the publicly funded science that drove our growth after World War II with private research efforts. Such private R&D has shown some impressive results, including high average returns for the corporate sector. However, despite their enormous impact, these private R&D investments are much too small from a broader perspective. This is not a criticism of any individuals; rather, it is simply a feature of the system. Private companies do not capture the spillovers that their R&D efforts create for other corporations, so private sector executives in established firms underinvest in invention. The venture capital industry, which provides admirable support to some start-ups, is focused on fast-impact industries, such as information technology, and not generally on longer-run and capital-intensive investments like clean energy or new cell and gene therapies. Leading entrepreneur-philanthropists get this. In recent years, there have been impressive investments in science funded by publicly minded individuals, including Eric Schmidt, Elon Musk, Paul Allen, Bill and Melinda Gates, Mark Zuckerberg, Michael Bloomberg, Jon Meade Huntsman Sr., Eli and Edythe Broad, David H. Koch, Laurene Powell Jobs, and others (including numerous private foundations). The good news is that these people, with a wide variety of political views on other matters, share the assessment that science—including basic research—is of fundamental importance for the future of the United States. The less good news is that even the wealthiest people on the planet can barely move the needle relative to what the United States previously invested in science. America is, roughly speaking, a $20 trillion economy; 2 percent of our GDP is nearly $400 billion per year. Even the richest person in the world has a total stock of wealth of only around $100 billion—a mark broken in early 2018 by Jeff Bezos of Amazon, with Bill Gates and Warren Buffett in close pursuit. If the richest Americans put much of their wealth immediately into science, it would have some impact for a few years, but over the longer run, this would hardly move the needle. Publicly funded investment in research and development is the only “approach that could potentially return us to the days when technology-led growth lifted all boats. However, we should be careful. Private failure is not enough to justify government intervention. Just because the private sector is underinvesting does not necessarily imply that the government will make the right investments.
Jonathan Gruber (Jump-Starting America Jump-Starting America: How Breakthrough Science Can Revive Economic Growth and the How Breakthrough Science Can Revive Economic Growth and the American Dream American Dream)
achieving failure”—successfully executing a flawed plan.
Eric Ries (The Lean Startup: The Million Copy Bestseller Driving Entrepreneurs to Success)
Many of these students seem to have a blinkered view of their options. There’s crass but affluent investment banking. There’s the poor but noble nonprofit world. And then there is the world of high-tech start-ups, which magically provides money and coolness simultaneously. But there was little interest in or awareness of the ministry, the military, the academy, government service or the zillion other sectors. Furthermore, few students showed any interest in working for a company that actually makes products. . . . [C]ommunity service has become a patch for morality. Many people today have not been given vocabularies to talk about what virtue is, what character consists of, and in which way excellence lies, so they just talk about community service. . . . In whatever field you go into, you will face greed, frustration and failure. You may find your life challenged by depression, alcoholism, infidelity, your own stupidity and self-indulgence. . . . Furthermore . . . [a]round what ultimate purpose should your life revolve? Are you capable of heroic self-sacrifice or is life just a series of achievement hoops? . . . You can devote your life to community service and be a total schmuck. You can spend your life on Wall Street and be a hero. Understanding heroism and schmuckdom requires fewer Excel spreadsheets, more Dostoyevsky and the Book of Job. 110
Timothy J. Keller (Every Good Endeavor: Connecting Your Work to God's Work)
But no matter how unambiguous the end result of the power law, it doesn’t reflect daily experience. Since investors spend most of their time making new investments and attending to companies in their early stages, most of the companies they work with are by definition average. Most of the differences that investors and entrepreneurs perceive every day are between relative levels of success, not between exponential dominance and failure. And since nobody wants to give up on an investment, VCs usually spend even more time on the most problematic companies than they do on the most obviously successful.
Peter Thiel (Zero to One: Notes on Startups, or How to Build the Future)
Failure is an integral part of the search for a business model.
Steve Blank (The Startup Owner's Manual: The Step-By-Step Guide for Building a Great Company)
There are five ways technology can boost marketing practices: Make more informed decisions based on big data. The greatest side product of digitalization is big data. In the digital context, every customer touchpoint—transaction, call center inquiry, and email exchange—is recorded. Moreover, customers leave footprints every time they browse the Internet and post something on social media. Privacy concerns aside, those are mountains of insights to extract. With such a rich source of information, marketers can now profile the customers at a granular and individual level, allowing one-to-one marketing at scale. Predict outcomes of marketing strategies and tactics. No marketing investment is a sure bet. But the idea of calculating the return on every marketing action makes marketing more accountable. With artificial intelligence–powered analytics, it is now possible for marketers to predict the outcome before launching new products or releasing new campaigns. The predictive model aims to discover patterns from previous marketing endeavors and understand what works, and based on the learning, recommend the optimized design for future campaigns. It allows marketers to stay ahead of the curve without jeopardizing the brands from possible failures. Bring the contextual digital experience to the physical world. The tracking of Internet users enables digital marketers to provide highly contextual experiences, such as personalized landing pages, relevant ads, and custom-made content. It gives digital-native companies a significant advantage over their brick-and-mortar counterparts. Today, the connected devices and sensors—the Internet of Things—empowers businesses to bring contextual touchpoints to the physical space, leveling the playing field while facilitating seamless omnichannel experience. Sensors enable marketers to identify who is coming to the stores and provide personalized treatment. Augment frontline marketers’ capacity to deliver value. Instead of being drawn into the machine-versus-human debate, marketers can focus on building an optimized symbiosis between themselves and digital technologies. AI, along with NLP, can improve the productivity of customer-facing operations by taking over lower-value tasks and empowering frontline personnel to tailor their approach. Chatbots can handle simple, high-volume conversations with an instant response. AR and VR help companies deliver engaging products with minimum human involvement. Thus, frontline marketers can concentrate on delivering highly coveted social interactions only when they need to. Speed up marketing execution. The preferences of always-on customers constantly change, putting pressure on businesses to profit from a shorter window of opportunity. To cope with such a challenge, companies can draw inspiration from the agile practices of lean startups. These startups rely heavily on technology to perform rapid market experiments and real-time validation.
Philip Kotler (Marketing 5.0: Technology for Humanity)