I came across a very relevant and interesting opinion piece in the Business Standard today, titled “Startup Fever” by Ajit Balakrishnan.

Some important notes from the author that got me thinking:
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“…what gives me sleepless nights is that in India, amid all this clapping and cheering abouts startups, at policy making level we need to dive a lot deeper into the startup process…

Statistics from the United States and India show that nine out of ten startups don’t make it; ie. only 10 per cent survive and prosper.
A further analysis shows that 20 per cent of startups fall apart after a year, another 30 per cent close down within two years, 20 per cent shut their doors within five years, and the remaining 20 per cent dissolve within ten years…
Which conveys learning to deal with failure in a startup venture appears to be as important, if not more important, than learning to celebrate success.

…Statistics reveal that the most important reason for failure among startups is that the product/service created does not appeal to the market (market fit).
Second – initial funds startup had at its disposal are used up too quickly.
Third – failing to hire the right people. The founders should complement each other’s skills.
The final reason for failure – something that could happen in the environment beyond your control but damages your business…”
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The opinion piece starts with a reference to an individual suicide scenario, potentially of a startup founder.
Our world tends to celebrate only the few startup successes. Is there a way to cherish the learnings and journeys of those that fail?

Startup founders and teams live through constant high stress and pressure. It is critical to work through the challenges together as a team, and build a healthy internal environment that supports each other during times of both success and failures. The impact of leadership mental and physical health could roll over into many areas, including health of the organization. Don’t leave people hanging, and share graciously during success as well. In the larger context and meaning of life, the universe seems to have a way of balancing. There are various aspects of the organization that can be analysed and improved.

External support networks and the systemic support could be game changers for leaders who may feel lonely. Sometimes, for those who have not faced any previous major failure in life, a major failure like this can be debilitating. Finding ways to cherish the journey and experience, relationships, building personal and organizational resilience (including learning to work through failures), and connecting the dots to larger context (seeing it as part of evolution) can add to the meaning of work and life.

This also reminded of a famous quote from Steve Jobs.

“You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something—your gut, destiny, life, karma, whatever”.