Forums: Discussions for entrepreneurs and small business.

Doesn't it make sense not to try and emulate 90% of the businesses out there? I was thinking this a lot lately. People say, "Matt, you do know that 90% of new businesses fail in the first year, right?"

And I'd reply, "I'm not 90% of new businesses. I won't do a franchise because I want the glory of victory if I succeed. Safety? Screw that. I want glory. This is my name. There's nothing like it. I can ignore those statistics because I'm not making the same cafe 90% of the world tries to make. I'm different, and ignorance is bliss. I'd rather hear 'Who knows what your odds of success are,' than, 'You have a 10% chance of success'. "

I have unlimited potential because nobody else has shown how lousy my idea is, already. It might fail, but at least I can ignore naysayers. This idea hasn't failed yet. If I were opening Dipping Donuts or SpaceBucks, I'd be worried. If I were opening, "The Cozy Corner College Campus Art Nouveau and Light Jazz Cafe" I'd be worried.

I'm reassured by being one of a kind. I'd rather fail at my own idea than fail copying an idea that at least 10% of the rest have been able to pull off. Just my late night rant. Take what you will from it. If there's a moral, it's to try and be original. In for a penny, in for a pound. If you're going to risk it all, you might as well get the maximum kudos possible if you win. Winning off someone else's idea means you either lose or share credit. I dunno. Opinions? It came up tonight, and was on my mind.

To me, it is not about saying or not saying someone shared in my success.  That being said, there are additional costs with franchises and franchises are all about selling you a franchise, whether or not it may be right for you.  Quite frequently you can struggle along in a franchise to support yourself.  It doesn't hurt the franchisee as much as it hurts you since you are still paying royalties, etc- just not making enough to fairly pay yourself.  Good luck with your idea.

Overcome the reasons why people fail and you'll have success:

1. Product and Service not high need or market saturated.
2. Under capitalized.
3. Bad management - either not enough skills and knowledge or failure to hire those skills and knowledge you lack.

Remember that businesses also succeed and make it rich.

Hmm... I don't know how to respond to this topic. On the one hand, I love the enthusiasm. On the other, if I made a couple of billion dollars off of legally copying someone's business model...well then I could start my own business with a billion dollars in start-up capital.

It's really not just the idea that fails, there are also a lot of other factors to consider. One is supply, another is management supply, then the location, customer relations - so many things contribute to the success or failure of a business!

I also wouldn't mind copying a business model if it felt right for me and if that previous model failed, then I would do everything for my own business not to fail the way the previous one did.

Passion is important in any venture without it, a business will fail because it is too easy to give up when things get difficult, and things always get difficult.  Having said that, without some basics....a solid financial foundation, marketing, and a pressing need for your product or service, even the big boys and franchises will fail.

Keep the passion, (and determination...hard work...long hours...money flowing...more determination...) alive and you will have a sucessful business.

Beth