Why Startups Fail

Why Startups Fail

Lance Weatherby

blog.weatherby.net

@lance

Georgia Tech Entrepreneurs Society

November 8, 2010

#1 The Team Sucks

Never Started Before

And Don’t Listen to Those That Have

Team of One

No Technical Founders

No Designers

No Biz Dev

No Internet Marketers

People are Messy

#2 Afterthought Marketing

Do What’s Cool

Go Viral

Cool != Good Concept

Don’t Do What’s Needed

The Purpose of a Business is to Create & Keep Customers

Peter Drucker

Customer Must be Central Focus

Don’t Talk With Market

To Understand Problems

To Build Something Someone Wants

No Users

Which Leads toThrashing Lack of Focus

Field of Dreams Growth Plan

Get Out Executed

#3 Money

Have No Money

And No Idea How To Get Some

You Have a Plan

But No Product

And No Skills to Make It

Want Millions For Stupid Idea

So You Can Hire a Team

Pay for a Comfortable Life

To “Market”

When You Need $25k For V1

To Get Users

To Get Feedback

To Improve Product

Till Someone Will Pay

Paying Customers the Best Source of Funding

#4 Too Complicated

Lack of FocusI’ve Said it Twice Now

Lack of Base Technology

Nobody Can Build It

Too Many Yeses

“They Don’t Get it”

Timing

Why Startups Fail

•The Team Sucks

•Afterthought Marketing

•Money

•Too Complicated

Or some random kablooey

Why Startups Fail

Lance Weatherby

blog.weatherby.net

@lance

Georgia Tech Entrepreneurs Society

November 8, 2010