Why we started YANG
Updated: Aug 20, 2019
When an artist or designer decided to start their own path either as a freelance or a company, many struggled to survive, even more failed, and a few are able to build a flourishing business. And there is definitely a reason why designers and artist failure rate is higher than other industry.
Looking at the average start up, almost 50% cannot pass through the 1st year, and up to 90% failed by the 3rd year. As for artists and designers, I tried to look for the failing rate, but it is not officially available. From my personal experience, creative minds go through a tougher period than other industry. 42% of start up failed due to lack of market need, but can you define the creative market by market need? Many of us believe we are here to express and inspire, or even to provide what the market need before it exist. So we need to find a sweet spot to survive before the opportunity comes that lead your creations to rock the world.
To feed a company of creative people, it is most important to have the talents to spend time working on creation rather than running a business (which most people are doing). Many lost time and money just to figure how to run a business, and didn't have enough energy to spend on their work. So we are here to help those in need: those who are currently lost in their life path to find their position in the market; those struggling in business to straighten things up by doing some strategy planning or sometimes, just organising their millions thread of thoughts; those who had just started to explore to guide and prep them so they can avoid some silly mistakes that might be costly.
Sometimes independent designer and artist just need a business friend who appreciate them. The success rate of starts up with one founder is 20% while with two founder, it rise to 47.5%, and for three it drops to 7.5%. As creativity is subjective, many find it difficult to find a good partner who shares similar value and appreciate each other's talent. If you found such a person, I would like to congratulate you. But for those who are still struggling by themselves, we can be your second half to guide you, and as our company grow, we will also develop a management team to sort things our for you, especially those you hate to do and must do. This way, our skills could be put in good use.
And guess what, start-up might fail, but we have to modify and start again and again. Founders who have gone through multiple start-ups have a higher success rate. Bet who has more experience starting up, you? or our team?
(credit:as mentioned on image and https://www.go-globe.com/startups/)