{"id":7477,"date":"2019-01-31T18:42:17","date_gmt":"2019-01-31T18:42:17","guid":{"rendered":"https:\/\/jboitnott.com\/?p=7477"},"modified":"2020-07-07T01:30:36","modified_gmt":"2020-07-07T01:30:36","slug":"5-compelling-reasons-for-starting-a-business-even-though-most-businesses-fail","status":"publish","type":"post","link":"https:\/\/jboitnott.com\/zh\/5-compelling-reasons-for-starting-a-business-even-though-most-businesses-fail\/","title":{"rendered":"5 Compelling Reasons to Start a Business Even if Most Businesses Fail"},"content":{"rendered":"<p>Recent research shows that\u00a0<a href=\"https:\/\/www.entrepreneur.com\/article\/288769\" target=\"_self\" rel=\"follow noopener noreferrer\">75 percent of all startups<\/a>\u00a0ultimately fail, many of those within the first year of their existence. Nobody likes failure, obviously, even as we recognize that there are many\u00a0<a href=\"https:\/\/jboitnott.com\/zh\/7-leadership-lessons-u-s-secretary-defense-james-mattis\/\">lessons to be learned<\/a> when you start a business.<\/p>\n<p>Still, when we\u2019re talking about a failed startup, the\u00a0<a href=\"https:\/\/www.entrepreneur.com\/article\/278056\" target=\"_self\" rel=\"follow noopener noreferrer\">cost of failure<\/a>\u00a0can be pretty steep &#8212; sunk costs that can\u2019t be recovered, hours you can never regain, the opportunity missed by\u00a0rejecting another, possibly better idea. It can make even the most experience-hardened entrepreneur flinch.<\/p>\n<p>Given those costs, then, why would anyone go to the trouble of creating a business in the first place?\u00a0Believe it or not, you can find lots of value in the experience of launching your own startup or business, even if failure (however you define that word) is part of the ultimate outcome. Here are a few of the biggest benefits.<\/p>\n<h2><strong>1. You learn to \u201cfail better.\u201d<\/strong><\/h2>\n<p>\u201cFail better.\u201d \u201cFail fast.\u201d \u201cFail often.\u201d You\u2019ve undoubtedly heard or read one or all of these expressions online. Even Facebook\u2019s controversial motto for several years was \u201cmove fast and break things,\u201d a variation on the same theme.<\/p>\n<p>As a society, we may be a bit too fixated on the concept of winning. When the only thing that has value is a wild success, everything else loses value by way of comparison. Yet that kind of winning is actually pretty rare. It also leads to playing it safe and the tyranny of incremental improvements.<\/p>\n<p>Where do the quantum leaps and truly original ideas come from? To a large extent, they come from people who are willing to attempt the leap. That comes with a risk, however\u2014the risk of falling flat on your face. In other words, the bigger the risk, the bigger the potential reward.<\/p>\n<p>There\u2019s also this to consider: failing better, faster, and more frequently may largely cure you of your fear of failure. This leaves you free to achieve your goals more readily.<\/p>\n<h2><b>2. You figure out how to succeed.<\/b><\/h2>\n<p>There\u2019s a possibly apocryphal story about famed inventor\u00a0<a href=\"https:\/\/www.entrepreneur.com\/topic\/thomas-edison\" target=\"_self\" rel=\"follow noopener noreferrer\">Thomas Edison<\/a>wherein he discloses to a new acquaintance that 10,000 attempts to create a working light bulb ended without achieving the goal. \u201cYou\u2019ve failed 10,000 times?\u201d the new acquaintance supposedly asks, horrified. \u201cNot at all,\u201d Edison replies. \u201cI\u2019ve successfully found 10,000 ways to build a lightbulb that don\u2019t work.\u201d<\/p>\n<p>Apocryphal or not, there\u2019s a nugget of wisdom here. There\u2019s true value in defining the negative contours of your goal. That is, it\u2019s important to know what doesn\u2019t work if you want to figure out what\u00a0<i>does<\/i>\u00a0get the job done.<\/p>\n<p>There\u2019s just no substitute for experience. By being willing to fail you learn the lessons you need to make your current idea (or the next one) more successful.<b><\/b><\/p>\n<h2><b>3. You can pivot to ride new marketplace waves.<\/b><\/h2>\n<p>The business pivot is a time-honored strategy that helps companies stay responsive to trends and shifting realities in the marketplace. However, to take advantage of a well-timed pivot, you must first have an actual business, not just the dream of one you keep in your head.<\/p>\n<p>Pivots involve shifting operations and systems as quickly as possible to ride the wave of a newly recognized market or need.\u00a0<a href=\"https:\/\/www.entrepreneur.com\/article\/310515\" target=\"_self\" rel=\"follow noopener noreferrer\">Successful pivots<\/a>, however, require a bit of momentum to help support the company as it powers through the turn.<\/p>\n<p>So even if your first best idea doesn\u2019t work out, you could still steer your company onto a more profitable track or strategy, as long as you remain alert and keep your business nimble and responsive to changes in your marketplace.<\/p>\n<h2><b>4. You learn who are as an entrepreneur and leader, quickly and with clarity.<\/b><\/h2>\n<p>You can acquire only so much perspective from the confines of the starting gate. To learn the truth, you need to break through the gate and actually start running the course.<\/p>\n<p>Some lessons and insights can only be learned through actual practice and experience. Are you a hands-off leader or one who works best when you\u2019re more deeply involved in the daily grind at your company? Do you prefer to delegate deeply or broadly? Where do your business leadership talents truly lie? What kind of company do you really want to build?<\/p>\n<p>There\u2019s really no way for you to know the answers to these and other questions with any certainty until you take a deep breath and actually dive in.<b><\/b><\/p>\n<h2><b>5. You might succeed when you start a business.<\/b><\/h2>\n<p>While the vast majority of startups can and do fail, quite a few of them succeed. Some even go on to dominate their markets. Could your business possibly be one of them?<\/p>\n<p>You\u2019ll never know if you don\u2019t try.<\/p>","protected":false},"excerpt":{"rendered":"<p>Recent research shows that\u00a075 percent of all startups\u00a0ultimately fail, many of those within the first year of their existence. Nobody likes failure, obviously, even as we recognize that there are many\u00a0lessons to be learned when you start a business. Still, when we\u2019re talking about a failed startup, the\u00a0cost of failure\u00a0can be pretty steep &#8212; sunk [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[291,260],"tags":[],"class_list":["post-7477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-small-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>5 Compelling Reasons to Start a Business Even if Most Businesses Fail - John Boitnott<\/title>\n<meta name=\"description\" content=\"The odds may be against you, but there are some important things you can learn when you start a business that may just make it all worthwhile.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.entrepreneur.com\/article\/325851\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Compelling Reasons to Start a Business Even if Most Businesses Fail - 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