Why do some startups succeed and others fail?
The Business Insider has some interesting insight on the subject:
Paul Gompers, Anna Kovner, Josh Lerner and David Scharfstein put together a Harvard Business School working paper to answer that question, Performance Persistence in Entrepreneurship.
In it, they answer things like:
Check Out a few of those answers below:
- Do first time entrepreneurs have it harder?
- What's in a VC's name?
- Are successful entrepreneurs skilled or just lucky?
Do serial entrepreneurs have a leg up on first time entrepreneurs?Answer: Yes. Serial entrepreneurs are more likely to build successful startups.
According to the Harvard researchers, there is performance persistence in entrepreneurship.
They write, "All else equal, a venture-capital-backed entrepreneur who succeeds in a venture (by our definition, starts a company that goes public) has a 30% chance of succeeding in his next venture. By contrast, first-time entrepreneurs have only an 18% chance of succeeding and entrepreneurs who previously failed have a 20% chance of succeeding."
But we have to state that no one should give up on their dreams for a start up business. Where there is a will, there is a way. We believe if the business dream is desired and sought after to its end, it will be fulfilled.