Startups play the game with 1 credit remaining

When I was a kid I spent my fare share of time playing video games. The memories of building up credits in game to prepare for a particularly difficult section only to repeat my mistakes and be left watching the spinning Game Over are still with me

Now when I look at the business statistics I can see the same pattern repeating. People build up their savings and jump start their dream startup with their credits intact, jumping with a leap of faith. Unfortunately only half will last more than a year, and one one in ten goes the distance of 5 years. Why, and what can you do to avoid that? Do something today

May 23 2011 6:30 PM