“With the current startup failure rate, 90% of startups won’t stick around long. Find out what are the main pitfalls and how to avoid them with your new business.”
You have probably heard that old expression: “90% of all businesses fail.” Well this blog by Bobby Chernev of Review42 seemingly hits on every statistic around why start-up companies fail across many industries and geographies. More important, there are some lessons learned and, better yet, opportunities to be gleaned from these insights. If you love stats, then you will be endlessly intrigued by this deep dive into the numbers. “Less than 6% of US startups were funded by venture capital” is just one that jumped out to me, given my Silicon Valley myopia.
One thing I have learned over decades recruiting top performers is that finding great people is the number one buffer against startup risk. If you do not have the funding, experience, or resources to do this internally, seek out help in the beginning from top talent advisors, fellow entrepreneurs, and top recruiters who can share their years of knowledge and street expertise. Ask and you shall receive!
Read the full article at: review42.com