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.”

About Derek Lidow | Bestselling author Derek Lidow has long demonstrated the rare ability to operate successfully in corporate, entrepreneurial, and academic environments. He is an experienced and successful global CEO, a researcher, an innovator, and a startup coach. He currently is a professor at Princeton where he teaches entrepreneurship, creativity and innovation and was tapped by the University to inaugurate a campus-wide “design thinking” curriculum.

Derek, who sold his last startup for $100 million, works with founders and Princeton’s aspiring students to help them achieve their greatest levels of entrepreneurial success.

In addition to Building on Bedrock, he is the author of the best seller, Startup Leadership: How Savvy Entrepreneurs Turn Their Ideas Into Successful Enterprises, (2014).

View 1 other manifesto by this author

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