Why do so many startups fail? - Focus

Submitted by chaky on Tue, 12/01/2020 - 03:49

Listen to Warren Buffet and Bill Gates. In an interview, they were asked to name one secret that led to their success. It wasn’t their mentors or technical skills. It wasn’t their luck. It was Focus.

Most entrepreneurs don’t have that. Like sunlight can’t burn a paper without being focused, you can’t make an impact without focus.

If you are normal, you can’t sit and focus to save your life. You can’t even read this without thinking. Most people don’t have the attention span to focus for one single minute.

Failed entrepreneurs hide this inability to work and blame the market or people as the cause of their failure. But all it comes down to is a lack of focus.

Yes, there can be technical problems with your product/service. Or your team was bad. Or your product was useless. Or your sales process didn’t work.

But you weren’t focused enough to see and fix that.

No matter how bad the market is, there is someone who is making money. The only thing that separates you from him is your ability to focus.

To make money in business requires your all. I said "all", meaning everything.....24 hours you must think about your business...When you try to work at it with a foggy and stressed brain, you fail.   If you are not able to do that, forget about doing a startup...

Surprisingly, this point is not only bound to business but almost everything including research!  If you want to be mediocre, it may be ok.  But if you want to be something better, you got to focus, like a crazy, mad man.