Updated: Jun 30
Startup is the longest learning. After you get your BS degree, after you get your Ph.D. degree, after you are a terrific "tech guy", you still have much much to learn.
The learning after is not from books or coaches. You are your own coach now, and the textbook is called 'failures".
Life is a much thicker book than all your teachers have read.
Life has two books. The book of rules, and the book for breaking rules. The first book is printed. The second book is lived. The first book is about opportunities, the second book about road blocks (many man made on purpose in history). Startup is about closing the first book and move on with next phase, whose success has nothing to do with the success of first phase.
The first book ends in the title of "doctor professor", the second book ends in "entrepreneur". The first book you are a nerdy reader. The second book you are a seasoned philosopher and jack of all trade wiseman and doer.
Failure is necessity for learning. Because you are learning HOW TO FAIL.
There are 2000 ways for a company to fail. If you only know 1900 of them, you fail.
Real learning is experiential learning. You learn from failures, on the fly.
Good judgement only comes from experience. And much of that comes from bad judgement.
The life book is much much much thicker than you thought.
Failure and personal experience of it, is the magic ingredient of success. All successful people hide their failures afterwards.
To be successful, you must have tried every way to fail. There is no magic shortcuts.
There is no vacuum in business.
A vacuum is either a desert or extremely (too) early.
You need to stay alive by winning love from people, we call them customers.
You must compete.
You must experience (or know) all modes of failures in order to win. (It is like playing a computer game and advancing levels).
You must win adoration, which is we call success and relevance.
So go ahead and make the first in-signficant mistake. Many to follow, but this is life. In the end, you understand who you are by seeing how you react to experiences, and that is the meaning of life.
Even for famous entrepreneurs, serial entrepreneurs, their first time is always a failure. Edison's first invention failed. Kurt Petersen's first attempt failed. Many people don't know about this because the media only discusses the glorious successes later.
Other links to articles about startup failures and how to "embrace" them.
Real cases of startup failures
Top reasons beginners fail
For startup, the first failure is mandatory and it is the success!
Why companies start for 3-4 years before they fail?
Top 10 Indian startups that closed in 2019