Issue 118 - 06 | Against the Odds: Startups that Make It
By Derek Lidow Published June 11, 2014 9:00 a.m.

“It is one of our saddest economic statistics: More than half small businesses fail within a few years of startup. Unlike the cheery pictures presented in advertising or the success stories showcased on Shark Tank, a significant percentage of fledgling enterprises sputter and eventually die. Only 1 in 43 has any employees after 10 years. These startups don’t create much economic value. The vast majority don’t even earn as much for their founders as those people could have earned working for someone else. Dreams die, jobs are lost, and communities lose their vitality.

It does not have to be this way. In fact, if we want a robust economy with job growth, we must do something about it. I think that the solution is deceptively simple: entrepreneurs should stop thinking so much about the idea behind the business and focus instead on how to lead it.”



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About Derek Lidow | Derek Lidow is a longtime global CEO, innovator, and startup coach. He is widely-known as one of the world’s top experts on the electronics industry; his contributions range from patents to value chain applications that have forever improved companies as diverse as Sony, Samsung, Philips, Goldman Sachs and IBM. Among his many accomplishments, Derek is a successful entrepreneur who built iSuppli, a leading market research firm. In 2010 he sold his company for $100 million to global information leader IHS. You can follow him on twitter at

www.dereklidow.com

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