Startup: Failure Rate vs Success Rate
So, what is a start-up? Many people will have many descriptions in accordance with these two words that are connected via a hyphen. me, I’d say that “startup” is someone’s dream.
A dream that they have lived for so long, a dream that they want to turn into reality. You know, whenever a person starts something, it’s like they are putting their heart and soul into it, of course, with every penny they have in their hands.
This very discussion is supposed to be somewhat like statistical analysis but I am writing with an emotional self and heart.
I don’t know why but I just felt like it. no, don’t worry. Of course, I will provide the “how to succeed” and the rates of success and failure within the premises of a startup.
So yeah, the startup is the beginning of something. beginning of something such as an organization or a business. mostly by amateur entrepreneurs. But should we really call them amateurs? because they have what it takes to be a successful one. how if you may ask, I’d say it’s because they didn’t think of the cons and only the pros. they took the risk only because that’s what they wanted to do. you know something like following your own passion and making your own pathway. Yes, something like that.
A lot of startup owners give up only because it’s a lot of pressure to deal with and hurdles just keep coming on and on. back and forth. but the ones who didn’t flourish and succeeded to the greatest of heights.
you can just be an ordinary student having a major which you didn’t want to take (50% students of the world population aren’t pursuing the major that they wanted to, so there’s that) or a 9 to 5 office worker drenched in sweat working hours after hours only to realize that you don’t love your job or just anyone and suddenly a big thud hits the back of your mind. an idea which you know can change lives in today’s fast running technological and machinery life, a work that will actually make you happy from the inside.
And with that introspection, your journey begins. a journey where you’d have to give your all without fearing to lose anything and everything.
Yes, that’s a startup for you.
What does it take for a startup?
Abstractly speaking, it takes sheer determination and will for a startup. Having a strong heart should be a given, and by strong, I mean someone with enough ability and tolerance for stress and losses. because loss is A GIVEN if you start a business or organization with your innovations and ideas. why? because you need to build up a whole structure and prepare the strata of your startup. you will need to make the root stronger than ever. strong in the sense of plants, let’s say we sow a seed. How will we grow it? pour water, allow sunlight to lighten it up, and so on. but before we sow the seed, we see the quality of the seed, right?
But in terms of a startup, not just the quality but the water, sunlight, and other minerals are to be taken care of too. In simpler words, your startup needs to be so convincing that investors rush to you before you rush to them, and even if you rush to them, they accept your proposal and invest profoundly. and if your startup isn’t that convincing, you need to find people who will invest without thinking of their own loss and are willing to wait. In the latter, you need to be very sensitive and careful about it because it’s the trust and money they put into you, only to see the better outcome.
and of course, you have to have these qualities if you want to bloom into one beautiful flower.
1. grit, it’s nothing but the definite perseverance and passion which you need in order to achieve your goals and dreams.
2. passion
3. determination
4. the willingness to earn a living on your own, in short willingness to be independent.
5. zeal to reach the victorious heights
6. creative thinking
7. decision making
8. patience
9. leadership
10. honesty
11. hardworking
12. humbleness
13. time management
14. calculative thought process
15. situation handling
16. handling criticism
I wouldn’t go ahead anymore because these are the basic things that anyone and everyone will need for a startup. It’s like the hunger to be on top, with your own skills and ideas.
Rate of success in startups
To be honest, startups tend to fail. maybe not in the beginning but eventually as the years follow up. within like 2/3/4/5 years span of time. a startup will come tumbling down. I mean, it’s so good if you are able to carry it and take off at the beginning itself but tell me? why would you let it slack off after a year or two? Is it because you got tired? Trust me, my friend, no job in this world is easy. even if it’s a job given to you by yourself. You have to eat the dust, go through the dusk and dawn, and everything else to establish that startup into something big. you cannot just dream of making it big and then do nothing about it. no, that’s not how it works or it will work.
As per the new analytical view of data, startups have been successful at about 51.3% and that’s just for the first five years. Nobody knows what will happen after. but it’s good. It’s good that people are achieving success for something of their own.
no matter if it’s just a small noodle shop or a small plant selling e-commerce apps. you are still succeeding with the baby steps.
Rate of failure
Now, this is the main talk of the town. Failure. something we are all afraid of. But what about the ones who aren’t? Well, I guess they win at life. They win in life because failure is something you should never be afraid of. failure is always the stepping stone towards your goal, in fact, it makes your grip even stronger.
a small baby cannot learn how to walk without falling down. remember that.
Failure in startups always takes place. A GIVEN as I said. Some fail due to the harsh incoming words of relatives or friends or even just our own parents. it’s obvious that when you try to start something of your own, you will hear comments such as, “are you mad? why are you risking your job or studies for that?”, “you will never succeed”, “you are just wasting time”. phew. so many more. and some, get affected by these words and stop working on what they thought they’d accomplish.
Some fail due to a lack of money. either they spent all their money or they didn’t find investors. you see as I said. In the money matters of a startup, you need to be very calculative. All I’d say is either build yourself and your idea in a refined manner or find people who will help you in doing so with patience.
some fail due to not finding employees or people who are actually interested in working along with them. I’d say, find trustable workaholics or just be one so that they see you and get motivated.
90% of the startups fail at the beginning itself because of the reasons I’ve mentioned above.
there are no definite statistics about the failure rate. maybe to save the hearts of people. you never know.
Anyways, in order to lessen the number of failures in startups. grind harder. keep in mind the most basic things that you need for your creativity to take off.
Some successful startups
every app that we are using, even the gadgets we are using of different brands were once a startup. So more or less, this world is filled with startups. ironic how people don’t support one but use the other. if you know, you know.
- Zomato
- swiggy
- Alibaba
- Snapchat
- amazon
- uber
and my fingers would start painting if I go ahead naming all of it. so just named a few. What I am trying to say is, be naturally loving and hardworking towards what you do with your idea because it’s YOURS.
if not you then who will take care of the seed you saw and make it bloom into a beautiful flower/flower garden or tree.
Conclusion
I don’t have much detailed verdict. I can only provide you with encouraging words. But either way, the startup is a great field. you can achieve success if you believe you can. It’s always a win-win situation in terms of startups. you either win the win or lose the win. For a visual overview, I would suggest people to watch a Korean web series named “start-up”. it shows individuals working day and night for establishing their own thoughts into reality.
When you are about to start a startup, do not think about the “what ifs”, “what if I fail, what if I succeed?”. it takes only one or few words to mess up a human mind. so just function in order to receive that success, to be triumphant and be that CEO or chairman of your own rooted organization or business. be the change that you want.
