What is the most challenging element of running a startup? For many, it is the fear of the unknown.

Will your business take off, or will it flop? What will you be doing in the next year or two?

This fear stems from the fact that running a successful startup is incredibly difficult. It is estimated that approx 90% of startups fail, and 20% fail within the first year. Don't take these statistics as motivation to leave you business idea before it starts. Small startups often fail because business owners don't take the right approach.