How To Avoid Start-Up Mistakes In Your Micro Business
When times are tough and you’re demotivated or when things are going well and you’re full of hubris: Make sure you read about business failures as well as successes.
Some people find reading successes inspirational and motivating. Great. I find spending the time to read failures like these ones (as well as successes) gives me comfort when things are tough and a sense of perspective when things are on the up.
We all know about selection bias and the dangers of reading too much into business success stories. Successful businesses have big PR budgets for extolling their own brilliance because it’s in their interests. These interests, as a Micro business leader, are not your own.
My advice, avoid the mistake of following success stories. Protect your psyche and keep perspective: Startups fail more than they succeed so spend time reading about failures.
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Matthew Cleevely, CEO & Chairman, founded 10to8 with a few friends to help simplify managing bookings and make the world a little bit more organised. He helps out where needed across the business in strategy, accounting, finance, compliance, fund raising and people. Outside of 10to8 he works with wide range of high growth businesses to help them achieve their goals. He's also got an MEng in Engineering from Oxford and MPhil in Economics from Cambridge.
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