Rather than writing yet another how-to guide for people wanting to launch a startup, Tom Eisenmann conducted original research on startup failure to better understand startup success. During his multiyear research project he conducted 470 interviews with failed entrepreneurs and investors, and provided a series of case studies—from a home-furnishings retailer (Fab.com) to a concierge dog-walking service (Baroo) to a sophisticated social robot (Jibo)—and he identified six distinct patterns that account for most startup failures : Bad Bedfellows . Startup success is thought to rest largely on the founder’s talents and instincts. But the wrong team, investors, or partners can sink a venture just as quickly. False Starts . In following the oft-cited advice to “fail fast” and to “launch before you’re ready,” founders risk wasting time and capital on the wrong solutions. False Promises . Success with early adopters can be misleading and give founders unwarranted c...
Sharing tips, ideas and techniques for leaders and managers for the past 17 years.