I’ve had several people ask me this week, should they take the risk and get into startups, or get into tech, step into the unknown. What they’re really asking me, is what’s going to happen when they do. They want to know if they’re going to fail. They want to know if it’s going to hurt.
Here’s the truth.
90% of businesses are going to fail. And that includes the vast majority of the startups I’ve seen walk through the doors of any and every co-working space and accelerator in Australia. That 90% includes people who aren’t as driven, as talented or as stubborn as you are, but it also includes people who are playing the game with 10x your ability.
If you’re in an information/technology business, your failure rate is 63%, higher than any other industry. If you’re under or over a certain age, that affects these numbers too. The indisputable fact of it is that you are more likely to fail and wipe out than to succeed.
The odds are stacked the fuck against you.
And you know what?