Misery Finds Company

You've heard the grim statistic: About 50% of new businesses fail within the first four years. Serial entrepreneur Nicholas Hall figured their founders need some bolstering, so in May he launched a community Web site, startupfailures.com, with message boards, a business coach, and more.

Why start startupfailures.com? Entrepreneurs who have failed are a huge community. Here people can acknowledge "I tried something, it didn't work, and here's a community that can support me to try again."

How will the site grow? We're really going to expand the coaching area. We will be creating original content. And we're going to create an exchange for entrepreneurs to trade equipment, services, or supplies.

If the site becomes a success, will you be profiting from others' misery? I'm calling this a philanthropic for-profit. It's more like a membership association.

What advice would you give a failing entrepreneur? To remember that they're not a failure. Their business failed. It's not about them.

Before it's here, it's on the Bloomberg Terminal.