Why Startups Fail Lance Weatherby blog.weatherby.net @lance Georgia Tech Entrepreneurs Society November 8, 2010
Why Startups Fail
Jan 14, 2015
Presentation to Georgia Tech student entrepreneur society.
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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
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