When starting a startup, we are often most afraid of failure. But I think that shouldn't be the case. What should be feared the most is not being able to tell whether it's a success or failure—that nasty in-between state.
I'm talking about a startup that's lingering for months or even years: too much traction to shut down, but not enough traction to be truly satisfied with it.
Failure sucks, but at least it brings clarity. It often comes quickly. "Better a horrible end than endless horror."
So how to prevent this "not a success, not a failure" state? Speed. Iteration speed seems to be the single most important factor in determining whether something has traction. Speed also helps avoid sunk-cost fallacy. It's much harder to shut something down after years of work than after just a few months.
Failing is bad. Lingering without failing or succeeding is worse.
