The Bottom Line – There’s an oft-cited statistic that can put fear into the hearts of entrepreneurs–that 90% of startups end in failure. However, data from the U.S. Bureau of Labor Statistics indicate that 80% of businesses make it to their second year of operation, and analysts point to different expectations of success as muddying the definition of failure. Whatever the case, as with any project started from scratch, entrepreneurship requires time, attention and investment.
A self-proclaimed “startup junkie,” Shawn Bercuson is a founding member of Groupon. After just 17 months, the online deals company was valued at over $1 billion dollars. Since his time at Groupon, Bercuson has started several companies, including FinnBin, his most recent endeavor. On today’s Bottom Line, Bercuson discusses what it took to improve upon the Finnish concept of an infant baby box, an alternative to soft sleeping surfaces, and how the birth of his daughter prompted the birth of the company. He also reflects on his experience at Groupon and how to address negative customer experiences without overlooking the success of a company.
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