You have Courage and trust into her Idea and they have the ability not only to master crises with ingenuity, but to turn them into opportunities.
- Entrepreneurs: The fear of failure
- Failures are the most important asset
- Do not fret, but act
- With Slow Grow to success
- Bill Clinton and Bruce Springsteen as customers
- What make successful founders better?
- Distrust as a guarantor of success
- Top books on the subject
- Read text as PDF
- Book eCourse on Demand
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Entrepreneurs: The fear of failure
According to the Federal Ministry for Economy and Technology there are around 400.000 start-ups in Germany every year. And many start-ups only have one Objective: possible fast to grow. However, a study by the Kreditanstalt für Wiederaufbau shows that around half of all start-ups fail as early as the planning phase.
The most common reason: Anxiety before your own failure. What happens there? And how does that work growth of successful Company?
Failures are the most important asset
Eric Ries was on Best of in a series HR - Berufebilder.de® describes the growth of successful lean start-ups. And showed that a start-up not only needs a great idea, but also the possibility of scaling the idea and management, i.e. adapting them to growing success.
Also, failures are important Capital for founders. "If you don't do anything wrong, you miss the chance to get better," says the Berlin consultant for start-ups and entrepreneurs Best of HR – Berufebilder.de®, Ulrike Rheinberger. Much more dangerous than trying something new is staying in the same routine out of sheer habit. Rheinberger's advice for cushioning failure: Collect as many alternative solutions as possible and choose the best ones decide and just try it.
Do not fret, but act
Advice that Martin Klug gave to the Foundation of his company TravelEssence had already taken to heart almost intuitively: The business idea arose from an acquaintance in a bar and was approached with a lot of naïve eyes: “Of course we believed in quick success, even if the customers and banks waved them off," Martin told me with a grin.
At the same time, however, he learns that as a founder you don't have to put so many obstacles in your way: "A lot, for example these Financing, can only be influenced to a limited extent. So instead of getting angry at the banks, we concentrated on the business idea and theirs Implementation.” With this perseverance and a lot of ingenuity, the two were finally able to convince the customers.
With Slow Grow to success
I found another nice example of how crises can even take founders a step further in Ireland: namely downsizing and slow-grow - exactly the path that Kieran and Ronan Ganter from Dublin have just taken with their chauffeur service.
Brothers Kieran and Ronan Ganter founded a chauffeur service back in the 90s. Her fledgling company had grown quite quickly at first: "Back then, we tried to take on every order," says Kieran. But that meant higher Costs, higher dependency on agencies and tour operators and also more Organization.
Bill Clinton and Bruce Springsteen as customers
When the economic crisis came in 2008 and prices fell everywhere in Ireland, the two restructured radically: they sold the cars and opened a bike rental company with 20 bikes. This downsizing, initially born out of necessity, brought about a decisive improvement in the company concept: in 2011 the two sold their bicycles and returned to their limousine service - but differently than before:
“We consciously focus on high quality: Only two vehicles, but Mercedes instead of VW. Our goal was quality service at a reasonable price - and a business that could be run with fewer people and less organisation," Kieran tells me. The decisionFocusing on quality instead of quantity paid off: Today, Bill Clinton and Bruce Springsteen are among their customers.
What make successful founders better?
So what makes successful founders better? Above all, as studies and examples show, they have courage and confidence in their idea. And they manage to convince their customers. However, there is a second important point: the ability to handle crises not only with ingenuity, but literally turning them into opportunities. That's exactly what distinguishes successful entrepreneurs.
How important the Personality of a business founder Dr. Christan Lechner, Professor for corporate governance and Innovation at the outdoors University Bolzano, and discovered three typical character traits: Successful founders have a good portion Optimism, increased self-confidence – and a healthy distrust.
Distrust as a guarantor of success
Together with his Icelandic colleague Svein Vidar Gundmundsson, Lechner evaluated statistics about start-ups in Iceland. They found that young companies are more likely to survive when the founders are suspicious, whereas when the founders are overly optimistic and self-confidence negative impact.
Lechner's explanation for this: who distrusts others controls employees and Finance stronger than overly optimistic. This is precisely what gives a company a decisive advantage in terms of survival in the first few years. Lechner sees distrust as another form of exaggerated self-confidence: those who are convinced that they can do everything better do not trust others.
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