Entrepreneurs are among the most stubborn people on earth. Persistence is what makes them entrepreneurs. The path of entrepreneurship is complicated and riddled with pitfalls. If you are not ready to flop over and over, then it probably is not for you.
Perseverance is paramount in entrepreneurship, a case that defies the wisdom of the saying “errare humanum est perseverare diabolicum”.
Why do startup companies fail?
For many reasons, of course. My first startup failed because of we were an ill-assorted team and lacked the resolve to go “all in” and to dedicate 120% of the required time and effort. Lessons learned? Many, for instance:
Lesson #1: Choose your business partners wisely. Not having the right team is a killer, no matter how cool and marketable your product is.
Lesson #2: Believe in your product. If you’re not ready to go “all in”, then you yourself don’t believe in what you want others to buy.
Lesson #3: Don’t assume that because you love your baby, everyone else will.
Lesson #4: Be ready to adapt. If your potential customers are not buying, the reason might well be that your product lacks a real added value (or at least they do not perceive it). Readiness to adapt to what the market wants and demands is crucial.
And many more…
Has this kept me from trying again? Hell no! I have learned from my previous flop and I am trying again, right now as I write! It takes persistence to succeed at entrepreneurship, but a special kind of persistence: flexible perseverance. If I failed to learn from my previous flop and from the mistakes that caused it, that would be really “diabolicum“.
We have conceived our entrepreneurship programs, the FlopCamps and FlopClasses to introduce the concept of “failing fast to succeed quickly” to the younger generations. The aim is to teach them to take risks the smart way, without fear of making mistakes and of possibly flopping, by practicing the concepts of trial and error and of continuous improvement.
Learning by doing, learning by playing, because we sure can have a lot fun with all this serious stuff.