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Why does a Business Idea fail?

The idea it’s 1%, and 99% is execution. So it’s like this if you want to, let’s say drive a car from Surat, let’s say to Mumbai, okay. And you think – I think that’s a great idea.

I think I’m super motivated, I’m optimistic, but I don’t know how to drive.

I just don’t know how to drive. They don’t have the business skills, no different than no driving skill, but they thought I’m going to get in the car, and I’m going to drive.

When it’s snowing, I don’t even need to check my tires. I just hope it’s going to work. And my mom tells me it’s going to work. So it’s going to work.

And before you know it you crash and burn, and that’s what happens, right?

So it is the business skills that are lacking that enthusiasm is great, and ideas are great, but you need skillsets.

Idea Fail

The business fails because of mismanagement. I think most businesses fail the first day they start, it just takes them five years to realize it.

The first day, you will not able to find out that, it’s not going to work. But it takes them five years to find out. I think that’s what happens, right?

So it’s a skillset. No one taught them what business skills you need to be successful.

No different than driving. If you drive a car, right? If I drive a car from here again to Mumbai, I have driving skills, right?

If you have driving skills, I know how it works and I make sure I have the proper tires, right? I make sure I have the GPS. I make sure I have my strategic plan. I make sure that I have maybe a four-wheel, right?

Maybe an SUV. Then the chance of you getting there safely is a lot higher. Or maybe even get a friend to come with you as a partner and say, “Hey, what if halfway, maybe I get a little bit sleepy, a little bit tired, it is a long drive, you can help me out, we can alternate.”

Then the chances of you getting this are much higher. So that’s the way I see it. But if you say, “I’m excited, I’m going to drive, I have no idea how to drive, in fact, I’m so confident.

I’m going to blindfold myself because I am excited about this as the greatest idea. So I’m going to get them to blindfold me.

And more than that, I’m going to tie my hand to the wheel, right?

And I’m going to stick a knife in front of me because that will never happen. And I’m going to press on the gas.

And we’re going to get there. But that’s just, crazy. But a lot of entrepreneurs do that.

Do You watch Shark Tank? Recently one idea was shown in the Shark Tank. One Entrepreneur presented that saying I have got this idea for this board game. I put all my life savings into it. My kid loves it. I’ve got 2000 of them in my garage. Give me a million rupees that help me sell this.

That’s that. That’s what blindfolds driving. They can see it and you tell them is a bad idea. No, it’s a great idea.

It’s the greatest idea. They’re blinded by their own emotions. But a sophisticated investor looks at that. That’s a bad idea. Don’t do it.

Oh, I’m not going to give up. I’ll never give up but then you’re being an idiot. If you don’t give up right?

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