This article by Jamie Pride, posted in the Sydney Morning Herald is of significance for InfinityLab as the article recognises the stresses in founding new ventures and, supporting the InfinityLab premise, the need for strong support and networks, a clear roadmap (which often changes, but is still an important guide) and solid, honest, realistic support.
Pride notes the high failure rate among startup ventures, and the impact this can has on founders, staff and their families.
With founding a start-up now “the new black”, and with as many as 9 out of 10 founders destined for failure, burnout and checkout is becoming an increasingly significant issue.
Pride notes that “I have seen a clear pattern emerging: start-up failure has become an accepted industry norm, and it has an impact that reaches far beyond financial loss to investors”. Pride comments that while entrepreneurs need to failure-proof themselves many are not succeeding.
Please seek support when required. New ventures are challenging and require a unique and diverse skillset. Working with great people makes the journey that much more viable and enjoyable.