You have an idea for a new business. You are sooo excited that you start telling your friends and family about it (mistake). You are confident this product solves a big problem in the market (mistake). You make a vision board and start drafting your business plan (mistake). You recruit some family members and an enthusiastic friend to work with you on it (mistake). You know you are ready and prepared (mistake) and willing to do whatever it takes to make this work (mistake).
All the above may sound like good things, but following the textbook approach to entrepreneurial success is your biggest mistake of all.
Guess what: 66 percent of businesses fail within eight years. Why are the odds so long even for people who go out of their way to do everything exactly right? That’s what I set out on a mission to discover.
The answers were