If you're going to be a company that ignores the needs and suggestions of your users, you're destined. As an entrepreneur, you've probably heard or read the “maxim” that only 10% of startups succeed, but is this true? And if so, what strategies can you apply with your company so that it is not part of statistical failures? How can you avoid being part of 90% of bankrupt companies? Despite the results of both investigations, not everyone agrees with such high numbers. Fortune published an article titled “Conventional Wisdom Says 90% of Startups Fail.” As an entrepreneur, you've probably heard that only 10% of startups succeed, which is true in a sense. All your success as an entrepreneur depends on the strategies you apply with your company.
According to a study by CB Insights, more than 70% of startups do not make it through the first phase of venture capital investment. The research showed that only 46% of these companies were able to raise enough for the next round of funding. However, this percentage decreased as the rounds progressed, obtaining a final figure of 1% success, which are currently recognized companies such as Uber or Airbnb. The statistics on the failure of new startups can be alarming.
Depending on the criteria used to define a startup, the failure rate reaches 90%. You've studied markets and finance, but the idea of creating a startup intimidates you. Although 90% of startups fail, let's consider the logic and analyze the remaining 10%. You shouldn't say that no step is a mistake, every step is a learning opportunity.
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