Perhaps a pessimistic title— I’ve had my fair share of failure, so I thought I’d share my understanding of what causes that to happen in companies and projects that I’ve worked on.
The main reason? Not starting. Yes, it really is that simple. People have all kinds of reasons why they don’t start— they need to prepare more, they’ll do it tomorrow, they’re not ready to begin right now.
Or maybe there is pseudo-action– they will write a business plan, they want to go consult with friends, there is some learning they need to do first. Or maybe they are Monday morning quarterbacks– more content to provide commentary on (or criticize) what other people are doing, I’ve been fortunate to work with many entrepreneurs who have been successful– they’re not necessarily more intelligent than everyone else, they just execute.
There is no such thing as a part-time CEO– you gotta be all-in.
So what are you waiting for? What is the one thing you’ve been putting off? Why are you here reading this blog? The difference between a dream and a goal is specific action and dates. Stop talking and start doing. And I’m going to follow that advice right now.
I think you’re right that most people who have an idea fail due to lack of action. However, I think most people don’t even get to the idea phase to be able to fail. They are non-nonstarters. They never even made it to the starting gate and therefor never had the option of quitting.