According to Anand Sanwal, “There’s a lot of fanfare when companies get funded or acquired, but people bury the dead pretty quietly.” The task is complicated by the fact that many failed start-ups don’t actually die — they limp along for years, underperforming, as entrepreneurs hang on to their dreams and aspirations.
There is a lesson here for all of us. Don’t fall in love with an idea, because you cannot will yourself to success. For every mega-corporation and brilliant innovation, there are thousands of initiatives that rest in corporate graveyards. Sometimes it is OK to walk away when the writing on the wall, of impending doom, is crystal clear.
It takes more than a good idea to succeed in business. It takes a recipe of the right product, great talent, the right market, the right value and perfect timing.
A dash of luck and divine intervention also helps.
About Hemant Rustogi