{"id":1970,"date":"2013-06-26T22:04:06","date_gmt":"2013-06-26T22:04:06","guid":{"rendered":"https:\/\/startwp.logomaker.com\/blog\/2013\/06\/26\/starting-a-small-business-and-failure\/"},"modified":"2024-03-07T16:09:34","modified_gmt":"2024-03-07T16:09:34","slug":"starting-a-small-business-and-failure","status":"publish","type":"post","link":"https:\/\/startwp.logomaker.com\/blog\/starting-a-small-business-and-failure\/","title":{"rendered":"Starting a Small Business and Failure"},"content":{"rendered":"<p><a href=\"https:\/\/www.logomaker.com\/blog\/2013\/06\/26\/starting-a-small-business-and-failure\/broken-failure\/\" rel=\"attachment wp-att-4057\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-4057\" src=\"https:\/\/startwp.logomaker.com\/wp-content\/uploads\/2013\/06\/Broken-Failure.jpg\" alt=\"Small Business Failure\" width=\"240\" height=\"156\" \/><\/a>If you\u2019re thinking of starting a small business (or are already running one) you have probably heard the scary statistic that <a href=\"http:\/\/smallbiztrends.com\/2012\/12\/start-up-failure-rates-the-definitive-numbers.html\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"(Opens a new window)\">more than half of all businesses fail<\/a> in the first five years.<\/p>\n<p>That&#8217;s a pretty grim thought if you\u2019re sacrificing your time, energy, and money\u2014doing everything you can to make your business succeed.<\/p>\n<p>Deal with it.<\/p>\n<p>Failure isn\u2019t the end. In fact, if you believe the experts, it\u2019s a launch pad to success.<\/p>\n<p>Take Michael and Ellen Diamant. They started Ski Hop, a company that creates and sells products for young children. Previously Michael had started a company called iClips, which failed in the 2002 crash. But that didn\u2019t stop him from seeing the potential in the stroller bag that his wife Ellen had designed. That same year they launched a company to sell the bag. And they\u2019ve added dozens of products since\u2014some of which have done better than others. Here\u2019s what they say about the ideas that fail:<\/p>\n<blockquote><p>\u201cThe world is full of people who are afraid to bring a product to market because they are afraid of that initial risk. But failure is a huge part of this business. It often provides the best data you can get. A good percentage of your products will never really take off in the marketplace. That\u2019s okay! You can\u2019t be successful in product design without occasional failures as well. <strong>You are going to need to invent and fail ten times for every success. Invent.<em>\u201d<\/em><\/strong><\/p><\/blockquote>\n<p>In fact, the more we profile <a href=\"https:\/\/www.logomaker.com\/blog\/category\/quotes\/\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"(Opens a new window)\">successful people who create small businesses, then grow them into big profitable companies<\/a>, the more we recognize that entrepreneurs see failure differently than other people. To them failure isn\u2019t about the outcome, it\u2019s about overcoming the fear of trying something new.\u00a0We think Sarah Blakely (<a href=\"https:\/\/www.logomaker.com\/blog\/2012\/03\/12\/small-business-quote-of-the-week\u2014sara-blakely\/\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"(Opens a new window)\">you can read her story here<\/a>) nails the definition of what failure really is:<\/p>\n<blockquote><p>\u201cWhen I was growing up, my dad would encourage my brother and me to fail. We would be sitting at the dinner table and he would ask, \u2018So what did you guys fail at this week?\u2019 If we didn\u2019t have something to contribute, he would be disappointed. When I did fail at something, he\u2019d high-five me. What I didn\u2019t realize at the time was that he was completely reframing my definition of failure at a young age. <strong>To me failure means not trying; failure isn\u2019t the outcome.<\/strong> If I have to look at myself in the mirror and say, \u2018I didn&#8217;t try because I was scared,\u2019 that is failure.\u201d<\/p><\/blockquote>\n<p>Rather than fear failure (and thus not start anything), small business owners need to face the fact that they are likely to fail. Especially if this is the first time they\u2019ve started a business. Once it happens, acknowledge it, learn from it, and start again. Eventually, you\u2019ll succeed:<\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=45mMioJ5szc\" target=\"_blank\" aria-label=\"(Opens a new window)\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium\" src=\"https:\/\/startwp.logomaker.com\/wp-content\/uploads\/2024\/02\/lmkblog_youtube_img_45mMioJ5szc.jpg\" alt=\"Michael Jordan \" width=\"415\" height=\"309\" \/><\/a><\/p>\n<p>One more quote, this one from <a href=\"http:\/\/www.feld.com\/wp\/archives\/2013\/06\/talking-about-failure-2.html\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"(Opens a new window)\">Venture Capitalist Brad Feld<\/a>, who got us thinking about failure (again) this week:<\/p>\n<blockquote><p>\u201cIn my world view, the best leaders understand that failure is an integral part of things.\u00a0 The cliche \u2018fail fast\u2019 is one of my favorites.\u00a0 When things aren\u2019t working, deal with it.\u00a0 Another is the famous line from Atlas Shrugged \u2018Nobody stays here by faking reality in any manner whatever.\u2019 \u00a0Denying that failure is part of our existence is akin to faking reality.\u00a0While I accept \u2018the experience of failure\u2019 feels \u2018negative\/crappy\/depressing\/hard\/sucky\u2019, <strong>I don\u2019t believe that \u2018failure is bad.\u2019 \u00a0Deal with it, learn from it, pick yourself up, and try again.<\/strong>\u201d<\/p><\/blockquote>\n<p><em>Photo credit: <a href=\"http:\/\/www.flickr.com\/photos\/mohammedj\/5355586732\/\">M.A.J Photography<\/a> via <a href=\"http:\/\/photopin.com\">photopin<\/a> <a href=\"http:\/\/creativecommons.org\/licenses\/by-nd\/2.0\/\">cc<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re thinking of starting a small business (or are already running one) you have probably heard the scary statistic that more than half of all businesses fail in the first five years. That&#8217;s a pretty grim thought if you\u2019re sacrificing your time, energy, and money\u2014doing everything you can to make your business succeed. Deal [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":1956,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,36],"tags":[],"class_list":["post-1970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advice","category-small-business"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Starting a Small Business and Failure - Logomaker Blog||Starting a Small Business and Failure - Logomaker Blog<\/title>\n<meta name=\"description\" content=\"More than 50% of all new businesses fail in the first five years. That&#039;s a pretty grim statistic. 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