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  1.3. Entrepreneurship and Failure (2 min.)

We have seen entrepreneurs like David ( and Greg ( fall into this same trap over and over - entrepreneurs who seem to do everything "right" end up stumbling. Although statistically most startups fail, the dirty little secret is that these startups aren’t failing because their ideas are bad, because they can't make the product, or because the founders lack talent. Indeed, we’ve met thousands of smart, talented entrepreneurs who struggled despite their great ideas and impressive qualifications. As a result, many people feel that the secret to being a successful entrepreneur is a mystery, and that great entrepreneurs must simply be born great. We completely disagree! There is a reason these intelligent and passionate entrepreneurs are failing.

In this section, we'll discuss the number one cause of startup failure and the most common traps that lead to it. We’ll also briefly introduce you to the Nail It Then Scale It method, which will help you as an entrepreneur avoid the traps that lead to failure and increase your chances of building a successful startup.