3 Reasons Why Startups Are Hard

Intelligent life is hard.

Despite the existence of billions of planets in our universe alone, we seem to be the only ones out there.

Startups are also hard.

Despite the abundance of ideas, capital and talent, 90% of startups don’t make it.

Creating anything valuable isn’t easy and startups are no exception.

A startup begins when you come up with an idea and decide to build a company around it.

Ideas

But not every idea is a good idea. And even in the universe of good ideas, not all can evolve into a sustainable business.

But let’s say you’re one of those lucky few with a great one.

Talent

Do you have what it takes to build a company from scratch? Do you have a team to get this idea off the ground? Can you raise money and adapt to external forces such as competitors? Can you grow your skills to meet the demands of running a 10, 50, 1000-person company?

Timing

Are you at the right place at the right time? You might have a great idea but be off by a decade or two. Does your idea depend on the world not changing drastically as it did during this pandemic?

I don’t mean to dissuade you from launching your venture. By every means, go ahead! There are many important problems that need solving. My hope is that you’ll be brave enough to dream bigger because of how difficult it is to stay alive as a startup.

Why start a business around a so-so idea when you have a 10% chance of success?

So if you’re fortunate enough to start something, don’t hedge.

Be bold.

Because in the likely event that it doesn’t work out, you at least gave it your all.