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Why Most Business Ideas Fail, And What You Can Do About It

by Matt Fox

If we realize that failure is normal, we come to view all business as an experiment, where success at the first attempt is not to be expected.

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I’m doing things a little different in this episode. Instead of the typical interview, I’m taking control.

I’m not sharing my failures (I don’t know where to start). Instead I’m addressing the reasons why most business ideas die and never find life. And what you need to do to give your ideas a fighting chance.

Here’s what I talk about in this episode:

  • How commitment, and lack of commitment, drives both success and failure.
  • Why you want to realize sunk cost quickly. And then forget about it.
  • Why you don’t want to think of your business ideas as your “baby.”
  • How your ideas keep you spread too thin.
  • How we have too many choices is killing your progress.In natural selection, failure is endemic. Failure is dominant. Success is the lucky exception.
  • How business is like nature and natural selection is at play.
  • Why you need many ideas to survive.
  • How to find success by acting fast.
  • Why diversity and evolution are the process behind every business idea’s success.
  • How to put this all together so you can succeed.
Download the 1-Page Quick Action Sheet for this episode here.

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