Why Start-ups Fail
It was a sobering reflection. I lost millions on a tech startup I took to $40M.
What did I learn? Did this failure mean it’s endemic amid tech startups? Would it happen again?
On difficult issues, I turn to the smartest people I can find. The author here is one of the best, Tom Eisenmann, Howard H. Stevenson Professor of BA at Harvard Business School, Chair of Harvard’s Innovation Labs, and author.
Why do Startups fail?
“A broad set of stakeholders, including employees, strategic partners, and investors, all can play a role in a venture’s downfall…besides the founders.”
“Could this outcome have been avoided? Perhaps. The founders’ lack of industry experience was at the root of many problems.”
Turns out it was a singular reason.
If you are a tech or SaaS startup founder and sell outside or moving to sell in the US, this is a compelling read.
Being able to capture guidance and insight from someone who can help navigate all the roadblocks you will encounter, and may not even see, could save your company, your livelihood.
For the full article, please go to:
https://hbr.org/2021/05/why-start-ups-fail
I hope this gives you some worthy reflection, as It did for me.
Ed