3 Lessons From Start-Up Failure

Photo: Pixabay/Shivmirthyu

Some 95 % of start-ups end in failure, despite all the news about multi-billion dollar companies that rise up from nowhere. While we don't read much about it, startups can and regularly do fail for many reasons: there was no real market need for their offerings; they ran out of cash; they didn't have the right expertise on their team; the price or the product was wrong … the list goes on.

Failure can be painful, but you need to view it as part of the learning process. There's real value in the practical lessons that can be gleaned from realizing that you've done something wrong. As Real Business reports, many great entrepreneurs, like Henry Ford and Richard Branson, have grappled with failure in one form or another — what sets them apart from the rest is their ability to take failure and use it to fuel their next big idea. While failure is almost always difficult to swallow, when you're an entrepreneur, it can also teach you some valuable business lessons.Here are three of the biggest. . .

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Chuck Leddy is a humble, intellectually curious, and fast-learning digital content developer/writer in Boston with a focus on employee engagement, leadership, and wellness. As a content developer, he's worked for B2B clients such as ADP, GE, American Express OPEN Forum, Cintas, Office Depot, the National Center for the Middle Market, and more.