For many, startups have been the hot, new trend. It's not hard to see why.
Startups, when done right, are an easy route to success. Who wouldn't want to work closely with a group of peers? Who wouldn't want to develop a new idea simply to sell it? An innovative app that does something nobody even thought of before?
Or, perhaps, the most important question of all is this: Who wouldn't want to get rich quick?
But is that the reality of startups, or the fantasy?
The media has endlessly glamorized startup successes. Movies and TV series abound with the exact same plotline repeating itself. A group of young, relatively competent college boys gets together and spend a year festering inside an "incubator." After a long, yet undetermined amount of time, the boys emerge with pages of code and a patented app. They begin to share it with the big companies, with Google and Apple and any other corporation whose name can be found on a logo while browsing the Internet. They market their success; they hope for the best.
Often, the stories stop there, leaving the viewer or listener half-wondering what happens next, half-believing that their efforts are sure to see fruition.
Yet, what the glamorization of this new tech world doesn't show us is that, in reality, 90% of these startups fail.
Yes, you read that correctly. 9 out of every 10 startups end up failing. Startup "post-mortems" are so common in the Silicon Valley that they're almost a cliche. The main worry with most startups, understandably enough, is that there is not enough market demand for the finished product.
In fact, 42% of startup founders report that lack of demand is the ultimate reason why their project failed.
If you ask anyone in a creative field, he or she will tell you that it's a completely natural thing. Finding a new idea is nearly impossible these days.
Next time, before romanticizing the idea of getting rich quick, keep in mind that the media rarely ever shows us the hard side of things--the hard work, the late nights, the failures. Go through ideas until you find one that truly inspires you. Don't settle for an idea that will "just do."
Expand your creativity. Don't get caught up in the crazy, breakneck speed of startup culture. Be genuinely passionate about the idea you pursue. It won't be worth it otherwise.