Your Startup will Fail Because

January 16, 2019 kwaku Abedi

Your Startup will Fail Because

It’s not about the world class idea you have or the life changing product you want to bring to the market.

Building a business is about who you are as an entrepreneur and what you contribute to make the world a better place.

It’s about you, your resilience, your extreme focus, your good timing, your willingness to learn, your networking skills and the respect you have for the business building process.

Its never about the idea or product, its about you

Who are you?

What are your motivations?

Why do you seek to change the world?

Question your motivations first. If it’s about making millions, fame, respect and recognition. Then rethink now!!!

Because hard times will come, the period of self-doubts, defeats, unreliable clients and lack of funds is looming and when that period arrives, you better have greater reason than being rich to carry on. You need a greater purpose than fame to push through.  

I have failed at a number of entrepreneurial ventures because deep down, I knew I was embarking on a wild goose chase for money, respect and acclaim. The emotional investment, drive, passion and the non-tangible characteristics that make a resilient entrepreneurs was not in me. When I encounter any hard challenge, quitting seemed like the best option which I conveniently did.

The difficult periods in the business building process is a metaphorical fire which will straighten you, sharpen and refine you. This is where entrepreneurs have to be resilient. The stage author Seth Godin calls “The Dip” finding out whether you’re strong enough to carry on or whether giving up is a better option and bearing in mind that hard things have steep curves.

In a world that is so hung up on congratulating people who start new diets, medical school, new businesses etc., the initial applause and accolades of announcing your new venture can sustain you so far.  After the congratulatory messages comes the time to roll up our sleeve and make that dream a reality.

In the Venture Capital Investment world, there is the widely held notion of investing in solid hardworking people and teams not mediocre people with shiny ideas. Smart investors invest in dependable, trust-worthy and hardworking people because startups can always Pivot. The story of the PayPal Mafia is a clear example of a solid team that have moved on to even greater exploits and successes because at their core, they have understood what entrepreneurship represents.

Are you willing to put in the blood, tears, effort and energy it takes to run a successful business?

Are you that person that’s willing to go on when the going gets tough?

Startups fail because humans fail them. As we build on our entrepreneurship skills, we need to build character, resilience and strength in our human capabilities and question our motivations of why we want to be entrepreneurs in the first place.

What we seek to do must be innate, we cannot separate ourselves from our cause. When in doubt about your entrepreneurship journey, focus on yourself, build your skill, challenge and stretch yourself to the highest heights.

That’s where the magic happens.  

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kwaku Abedi

Kwaku Abedi is Marketing, Public Relations & Digital Enthusiast

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