anagement -Have you ever wondered why most startups never see past the 12 months of their business? Well the answer is as clear as the question itself.
In his extensively researched book titled ‘The Founder’s Dilemma’, best selling author and Harvard Business School Professor Noam Wasserman points out the 65% argument to prove how businesses do fail for one major reason.
To start off, you may start a business alone but you sense you need some more brains into it, you then innocently bring on board a few other individuals. They arrive with a different approach of doing things. They want to turn you around a 365 Degrees U-turn because they think that was what they came to do. At that particular point, however, some misalignment crops in and, if not quickly arrested, may escalate out of hand hence possibility of folding up the entire enterprise. This is not a theory anyway.
Granted, as the owner of the business, you knew what you wanted and you have the idea of where you wanted to end. But when someone else comes with fresh ideas different from what you thought of your venture, this might tear down your morale. This is in fact, the main reason some people will not want to do business with partners. Note that partners could be good but when money starts cropping in, all hell breaks lose.
Not once it has been advised that the best time in your business is before it starts building but when it turns blue skies and bigger, you will be in for a rude shock.
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