Most startups fail, what do the ones that succeed do differently?
90% of Startups Fail
75% of VC Backed Startups Fail
2/3 of Startups never show a positive return
I have long held that the best mindset for a founder is to assume you're in the process of failing and to obsess over figuring out how. The statistics speak volumes, most of us are failing, so act accordingly. In fact, arguably all of us are failing, because those who succeed generally do so because they realized they're failing and adapt. Founders have to embody the Stockdale Paradox: uphold unwavering belief that we will prevail while confronting the brutal reality that 90% of us will fail.
This can create an enormous mount of cognitive dissonance for founders who are all Dealing with impostor syndrome as a founder. If you're looking at LinkedIn or the news or listening to a pitch you'll find nothing but confidence and certainty. It's expected by the startup and VC industry, founders who are nuanced and hedging their confidence don't get far. How do you balance this duality to succeed in the startup world?