Extensive Analysis of Successful Entrepreneurs

According to a study conducted by Harvard, a significant 55% of startup failures can be attributed to challenges related to personnel.

6/27/20231 min read

low-angle photography of man in the middle of buidligns
low-angle photography of man in the middle of buidligns

🔎 Discoveries by Google Following Extensive Analysis of Successful Entrepreneurs

According to a study conducted by Harvard, a significant 55% of startup failures can be attributed to challenges related to personnel.

I fully concur with this assessment.

Many startup founders frequently pose the following queries to me:

  1. How can I instill the same level of diligence in my employees as I possess?

  2. How can I prevent my team members from making errors?

  3. How can I gain agreement from my co-founders?

  4. How can I enhance my skills as a founder and leader?

Allow me to present you with data-driven insights based on Google's comprehensive examination of over 900 startup founders, CEOs, and CTOs from more than 40 countries.

To address the aforementioned questions, I have distilled the following crucial takeaways:

1️⃣ Treat people differently than you would yourself. It is not expected for them to toil as relentlessly as you do. Their role lies in accomplishing tasks that you may lack the capacity or time for. Thus, inspire your team by imparting a sense of purpose and a meaningful mission.

2️⃣ Streamline your micromanagement tendencies. Establish clear priorities and attainable goals to generate momentum. Identify those team members who require close supervision. For others, foster trust and empower them to operate independently.

3️⃣ Embrace diverse viewpoints. Co-founders should not always be in perfect agreement with you. It is impractical to assume that you will always possess the best ideas or approaches. In fact, constructive disagreements often pave the way for the most innovative solutions.

4️⃣ Embrace the inevitability of making mistakes. Failure and errors are an integral part of the journey. Rather than aiming for a mistake-free path, it is essential to learn from them and grow. However, remember to proactively seek out a support system and be adept at seeking help when needed.

📥 Download Google's full report