Few start-up founders are clear-minded enough about three non-negotiable fundamentals.
If there is one part of the economy that’s booming right now, it’s the start-up space.
A recent Wall Street Journal article pointed out that there is such a high demand for start-up funding that even hedge funds, private-equity firms, and sovereign-wealth funds are investing in closely held start-ups.
And yet the failure rate for new ventures remains defiantly high, at around 80 percent. (Most official agencies put the number at about two-thirds, 66 percent or so, but these are based on the failure rate of those start-ups that actually get around to registering with the IRS or other agencies. Anyone involved in the start-up industry knows that very many new ventures fail so quickly they never get around to filing with anyone, thus understating reported statistics.)
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