Let me begin with data that might discourage you, or prepare you for the reality ahead. According to data commonly cited across the startup ecosystem, approximately 90% of startups fail. CB Insights, which maintains one of the most comprehensive databases of startup post-mortems, has analysed over 450 startup failures and identified key patterns: lack of market need consistently ranks as the top reason for failure (in 35% of cases), followed by running out of cash and team issues. Perhaps most sobering, research published in Small Business Economics by Michael Freeman and colleagues found that entrepreneurs are significantly more likely to experience mental health conditions, with 72% of entrepreneurs reporting mental health concerns.
I share these statistics not to dissuade you, but to ensure you enter this journey with clear eyes. The difference between founders who succeed and those who become statistics isn't just about having a better idea or working harder. It's about understanding the systematic nature of venture building and preparing yourself—financially, strategically, and psychologically—for the challenges ahead.
This article will equip you with frameworks and insights drawn from analysing successful and failed ventures. You'll discover which type of founder you are and how to leverage your natural strengths while compensating for inherent weaknesses. You'll learn to recognise the predictable patterns of the entrepreneurial journey and build systems to navigate them successfully. Most importantly, you'll gain tools to assess whether you're truly ready for this journey and how to prepare if you're not quite there yet.