If 90% of new businesses fail, then...

MattTurpinMattTurpin subscriber Posts: 22
edited July 2010 in Selecting a Business
Doesn't it make sense not to try and emulate 90% of the businesses out there? I was thinking this a lot lately. People say, "Matt, you do know that 90% of new businesses fail in the first year, right?"
And I'd reply, "I'm not 90% of new businesses. I won't do a franchise because I want the glory of victory if I succeed. Safety? Screw that. I want glory. This is my name. There's nothing like it. I can ignore those statistics because I'm not making the same cafe 90% of the world tries to make. I'm different, and ignorance is bliss. I'd rather hear 'Who knows what your odds of success are,' than, 'You have a 10% chance of success'. "
I have unlimited potential because nobody else has shown how lousy my idea is, already. It might fail, but at least I can ignore naysayers. This idea hasn't failed yet. If I were opening Dipping Donuts or SpaceBucks, I'd be worried. If I were opening, "The Cozy Corner College Campus Art Nouveau and Light Jazz Cafe" I'd be worried.
I'm reassured by being one of a kind. I'd rather fail at my own idea than fail copying an idea that at least 10% of the rest have been able to pull off. Just my late night rant. Take what you will from it. If there's a moral, it's to try and be original. In for a penny, in for a pound. If you're going to risk it all, you might as well get the maximum kudos possible if you win. Winning off someone else's idea means you either lose or share credit. I dunno. Opinions? It came up tonight, and was on my mind.


  • JoomlaFanJoomlaFan subscriber Posts: 1
    Overcome the reasons why people fail and you'll have success:

    Product and Service not high need or market saturated.
    Under capitalized.
    Bad management - either not enough skills and knowledge or failure to hire those skills and knowledge you lack.

    Remember that businesses also succeed and make it rich.
  • mexitaimexitai subscriber Posts: 0
    It's really not just the idea that fails, there are also a lot of other factors to consider. One is supply, another is management supply, then the location, customer relations - so many things contribute to the success or failure of a business!
    I also wouldn't mind copying a business model if it felt right for me and if that previous model failed, then I would do everything for my own business not to fail the way the previous one did.
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