A lot can happen to a company in its first year. It can blow up into a multi-million dollar company, or crush itself into nothingness. Finding ways to not become another statistic, is what should be on every new company’s mind, especially considering that each decision a company makes can potentially shape its future positively, or negatively. In the United States alone, there are 540,000 new business starting a month. That means, with an 81% success rate of small businesses in their first year, 1.2 million of those businesses fail.
In the design world, we learn from our failures because it’s a way to spur innovation, competition and growth. However, this does not mean we “Leeroy Jenkins” the company into the ground. When we started MachinaTek, we knew that we did not want to be just another cookie cutter design company in the Portland area. We wanted the culture and the brand to establish itself, much like how a new child develops – through making mistakes and learning through our collective experiences.
Naivety is a quality for the noobs, one which we definitely shared. However, the 81%, like us, are fixated on breaking past that naivety, and still being able to maintain the level of passion and commitment required to becoming a steward of your small business. Our biggest mistake this year was utilizing an unknown platform to launch a product. However that doesn’t mean that our experience was vain. Instead, we learned a lot from this failure and now are taking those best practices forged through failure into two amazing products that will be launching in 2015.
I am happy to announce that we are the 81%. MachinaTek Design is now a melting pot of different ages, life experiences, disciplines and personalities. We embrace growth through strategic planning and creative “cliff diving.” We hope that as we grow, we inspire, encourage, and develop young startup companies in the coming years, to becoming their own legends and fulfilling their dreams.