Startup Failure Stories = Factors & Fears
We all keep talking of the startup success stories.
We want all of us to learn from other’s success.
Success becomes the barometer for measurement and source for managing one’s life. Learn how the startup founder has crafted his career. Learn how he has worked his vision. Learn how he has struggled, the struggle to get what he has achieved. Learn how he overcome the hurdles of starting hiccups to cross the lines of success.
When I was looking through web and blogs for startup stories, I was only able to see the phrase “success stories”, nowhere I was able to see the phrase “failure stories”. It seems those startup failures were deliberate and they were not capable, and those who are successful are talented and they have done everything right and that’s how everybody else who have to be successful follow the steps of successful startup stories.
I have no objection to it.
I have no reservation to it.
I have nothing against it.
What I am interested is about knowing the stories behind the startup failures?
Majority of startup failures are not related to founder’s talent or ability but to his approach or the attitude he carries and to the circumstances he was or situations he faced. The lack of awareness and the lack of understanding at that point of time generally leads to the beginning of their failure and they just didn’t fathom out the right way and the right solution to come out of the problem, eventually they succumbed to the grip of the problem. This is not a unique situation or an one-time phenomena, it keeps happening and everybody of us who wants to travel that unknown path of starting up a venture have to some point of time and somewhere have to face that situation. It all boils down to how one handle that situation. There is no magic formula and at the same time there is no such situation which cannot be managed, it all depends on our thinking and application of thought.
Every problem has a solution and every situation has a correct way to approach and right way to handle the situation. The pressure of situation takes over us and we invariable falter in getting it right, the right way does matter. Never easy to work under pressure, many of us have solution and know what to do but the problem is how we do and how we manage ourselves under the circumstances really counts.
The more we read about the stories of startup failures, the more we learn the mistakes and learn what not to do. Success stories primarily focus on telling us what to do.
It is like the “To Do List”.
But in every field there is also another list equally important is the “Not To Do List”.
It is true nothing succeeds like success and it is the startup success that makes the headlines and failures that loses it head, nobody looks at him, he is immediately orphaned, and success has many fathers. I feel the world will be a better place if the failures have place to show case what went wrong and why they failed. I feel the startup world will be a better place to live and debate. It shouldn’t be a debate between have and have-nots.
The startup world cannot be continued to be viewed through a skewed glass. It is time to change the glass, the frame of glass, the frame of looking at things and the frame of judging things, and the frame of measuring things and the frame of segregating things. It is time to use the frame to aggregate things, it is time to shed the hat of being judgmental, it is time to factor those intangibles into the measurement system, tangible do not always depict the true story, and it is time to stop viewing the world through the prism of success and failures.
There is life in between and the lives of failures are equally important and inspiring as those lives of the successful people.
I agree, the number of startup success stories we can count on our finger and failures are countless, so where to start and with whom to start. The challenge of choice is humongous.
How to pick and place few failures startup stories on board and make a difference in their live?
Not an easy question to answer.
Since it is not easy, it needs extra efforts to get the right answer and it is always worth taking such challenge. Overcoming hurdles or continuing to have the courage to face such challenges makes us stronger and a better person in life. Nature is the best equalizer, it balances everything in life. Unless there are hundreds of failure stories we cannot see few handful success stories, other’s failures are an indirect investment for the success of few. That’s nature’s way of creating wealth and wisdom, the problem lies only when the wealth and wisdom get concentrated. The lack of proper distribution is the problem, the mechanism to do and many times it’s the intent and generosity to do it.
Success makes us arrogant.
Failures make us humble.
Success takes us to the cloud.
Failures make us stay on the ground.
So who should you be part of, the startup people who are humble and on ground or those who are arrogant and on cloud?
At the same time;
Success has many supporters.
Failures have many detractors.
Successful startup venture don’t need further support, those people faced with failures needs our support to get back and get going. There is nothing called as permanent failure or permanent success. Everything in life is transient and everything can change and we can bring a difference in our life, it is only about dusting ourselves, caressing those bruises and getting the mind amend its thoughts and embraces a new way of doing things. Things then start falling in place the place changes and we are not sitting in the failure seat, it is time for us to migrate and move to taste the sweet success.
The fear of failures are there with those who are successful, the fear of failures are also there with those who are failed. The only difference is those successful has bigger things to lose and those failed has very little to lose. In either case the fear of failures are an integral part of our existence, we can escape the velocity of failure, there is this escape velocity to move into an orbit where fear of failures makes no difference. This is the difference I am talking about, there are millions of people who failed and have failed umpteen times and they have tried to taste success and haven’t yet.
The factors are many and we derive some patterns based on the success and failures of startups and project those patterns to be emulated and adopted to repeat success. This should be followed and this practice to continue, only that we can start following a new practice, the practice of learning from the startup failures and not repeating what they have done.
In hindsight we look at things and attribute a reason to satisfy our mind, mind needs reasoning to get the bug out of the system. It is not about success or failure stories on startups, it is about our mind and how we look at things in life and what lens we put to judge our work. I want to hear and read more of failures stories to change our mindset towards startup failures stories…beginning a new chapter for startups.