There are a lot of startups out there. We’re quite certain if you’re reading nibletz.com, the voice of startups everywhere else, then you are either a startup founder, entrepreneur, angel investor or you’re thinking about becoming one.
For that you’ll need to earn your startup wings.
Our friends at 4imprint.com have compiled some of the more important startup stats to make sure you’re ready to earn your startup wings.
Did you know that 476,000 companies are started in the US every month, but eventually 9 out of 10 of those companies fail. That’s horrible odds, but yet those home runs drive the entire ecosystem.
42% of startups fail because there isn’t a market for their product.
Other startups fail because they don’t have all the capital they need to get off the ground or the tenacity to bootstrap.
Bootstrapping is a viable option for many startups as long as they can keep their minds set on success. They have to be driven to succeed with the startup they’re working on. But then, after they are successful, a true entrepreneur will sell their company, or take it public. A true entrepreneur will startup something else.
What’s the runway?
Are you ready for take off?
Do you have the skills it takes to fly this plane of yours? Check out the infographic below from 4imprint.com and chime in below in the comments. Are you ready?