It’s fine to celebrate success but it is more important to heed the lessons of failure - Bill Gates
WHY STARTUPS FAILED? - POST ANALYSIS STATEMENTS
- Building a solution for a problem that didn't exist
- Not solving a real human need
- Not validating assumptions
- Not able to secure additional funding
- Not able to scale to become a self-sustaining business
- Public acceptance for the solution will require more time and resources
- Couldn't hire a team who could provide expertise, credibility, and connections
- Unable to get dollars flowing from the marketplace to line up with expense structure
- Spent too much time on the product and not enough time on growth and distribution
- We rarely had meaningful conversations with our target end-users
STARTUP ADVICE ON FAILURES
It is better to fail fast, than to have a slow death
tgas: startup failures, INDIA
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