Alex Bainbridge, writing for Tnooz, in Why travel startups always seem to suffer from the same problems wonders why so many entrepreneurs fail in such similar ways. Bainbridge argues that the root cause of their failure goes to starting companies for the wrong reasons. He posits that there are five reasons people start something:
- The friggin sucks — fix it
The last reason is the only valid reason for starting a company, the rest are frivolous.
I care very little about what other direct competitor companies are doing. The biggest challenge is solving a problem in the best way possible for the clients we currently have.
Simple.These are the entrepreneurs we should value. These are the entrepreneurs who are looking to leave the world in a better place than before their input.
We couldn’t agree more — if you’re starting something without a clear idea of what problem your startup will solve, your startup will fail. And this applies to all startups, not just the travel startups.