- Because their founders launch without being truly committed to their success.
- They fail because a would-be entrepreneur becomes convinced that a lousy business idea is brilliant or because he doesn’t understand the market he is targeting.
- They fail because their leaders don’t hire right people or offer the best people a good reason to join the venture.
- They fail because the founders don’t have enough capital, don’t know how to communicate effectively or don’t adapt to take advantage of new opportunities.
- Sometimes they fail because of bad luck, but more often and this is key. Unsuccessful entrepreneurs blame bad luck because they don’t understand what actually caused their failure.
CREDIT: The intelligent entrepreneur, Bill Murphy