“Experience is a hard teacher because she gives the test first, the lesson afterward.”

This insightful quote from the famous 1960s American baseball player Vernon Law perfectly encapsulates the entrepreneurial journey. 

While experience may be a hard teacher, the spirit of winning and losing is governed by lady luck.

Entrepreneurs must navigate continual learning, with some lessons costing only lost opportunities and others demanding significant cash and time.

Startup failures are always both costly and, worst of all for the entrepreneur, public. These public lessons are scorched into the entrepreneur’s mind, ensuring they are not easily forgotten.