Most people will say that money is typically the reason why a startup failed, but that doesn't take into consideration all the reasons why companies fail. In this series, we have discussed inexperienced teams, lack of influential connections, weak execution, and lack of vision. All these may be the cause ...
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Startup teams all too often underestimate the importance of building their own network of influential connections. Connections to influential users, influential industry groups, influential analysts, influential media, and influential business alliances. Or they hope to find investors and mentors that provide those connections once they think they are ready. In ...
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I once worked for a company in the telecom industry whose Director of Sales was highly reactive to prospects and would promise them every feature possible. He would then meet with the CEO who had accepted a large investment from the Sales Director's father to start the company. Whenever the ...
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Picking your initial startup team can be tricky. A person who has been wildly successful at IBM may not do well in a startup situation. They may have had a legion of support staff. They may have become very political in order to survive in that environment. They may have ...
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Many startups do very little market research. It is expensive, time consuming, and may indicate major issues that would keep your startup from becoming successful. Hiring a consulting firm to execute this step may be a viable option for you. However, this may also prove disastrous. At Lycos, I was ...
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Startups are a risky proposition. Even if you have your dream team in place, plenty of time, and more money that you need, you can still have a spectacular failure on your hands. I have had numerous sleepless nights trying to come up with ways to make payroll for certain ...
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