Why Startups Fail

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  • Failure is *not* taking risk\n
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  • 2 phases of startups: exploration (search for product-market fit) and growth\n
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Transcript

  • 1. WHY STARTUPS FAIL:AND HOW YOURS CAN SUCCEEDNOVEMBER 6, 2012DAVID FEINLEIBTHE BIG DATA GROUP THEBIGDATAGROUP.COM 1 Copyright © 2012 David Feinleib
  • 2. BLOGS.FORBES.COM/DAVEFEINLEIB 2
  • 3. WHAT IS FAILURE?BLOGS.FORBES.COM/DAVEFEINLEIB 3
  • 4. BLOGS.FORBES.COM/DAVEFEINLEIB 4
  • 5. IRONMAN FRANCE 20123.8KM Swim 180KM Bike 42KM Run Participants 2500 Finishers 2035 81.4% DNF 466BLOGS.FORBES.COM/DAVEFEINLEIB 5
  • 6. HOW TO FINISH AN IRONMAN 1) Commit 2) Prepare 3) SurviveBLOGS.FORBES.COM/DAVEFEINLEIB 6
  • 7. HOW TO BUILD A SUCCESSFUL STARTUP 1) Commit 2) Prepare 3) ThriveBLOGS.FORBES.COM/DAVEFEINLEIB 7
  • 8. WHY PEOPLE DON’T FINISH THE IRONMAN Internal causes 1) Lack of preparation 2) Run out of energy 3) Run out of time External causes 4) Mechanical failure 5) Accidents 6) WeatherBLOGS.FORBES.COM/DAVEFEINLEIB 8
  • 9. WHY STARTUPS FAIL Internal causes 1) Market 2) Product 3) Entrepreneur External causes 4) Environment changesBLOGS.FORBES.COM/DAVEFEINLEIB 9
  • 10. MARKET 10
  • 11. PICK THE RIGHT MARKET, NOT JUST A BIG MARKET Fast food in China is a huge market That doesn’t mean you should pick itBLOGS.FORBES.COM/DAVEFEINLEIB 11
  • 12. MARKETS: THE TREND IS YOUR FRIEND 1) Big Data 2) Cloud 3) Mobile 4) Social Decade long trends driving change Customers have to buy Multiples are higherBLOGS.FORBES.COM/DAVEFEINLEIB 12
  • 13. PRODUCT 13
  • 14. 14
  • 15. THE SEARCH FOR PRODUCT-MARKET FIT 1) Get out of the building 2) Listen to the data 3) Get to marketBLOGS.FORBES.COM/DAVEFEINLEIB 15
  • 16. DELIVER A TRULY GREAT PRODUCT 1) KISS: Keep it simple, stupid One great feature trumps many good ones 2) Make it easy to use/buy Build sales into the product 3) Understand your users Build analytics into the productBLOGS.FORBES.COM/DAVEFEINLEIB 16
  • 17. PRODUCT-MARKET FITBLOGS.FORBES.COM/DAVEFEINLEIB 17
  • 18. ENTREPRENEUR 18
  • 19. FAIL FAST Was Odeo - podcasting Was Burbn - mobile location checkin Was PDA paymentsBLOGS.FORBES.COM/DAVEFEINLEIB 19
  • 20. FUNDRAISING 1) Pitching burns time 2) Greed vs fear 3) Framing: buying, not selling 4) Vision or traction 5) You are the productBLOGS.FORBES.COM/DAVEFEINLEIB 20
  • 21. TAKING RISK IS THE FIRST STEPBLOGS.FORBES.COM/DAVEFEINLEIB 21
  • 22. FOR MORE INFORMATION David Feinleib dave@thebigdatagroup.comBLOGS.FORBES.COM/DAVEFEINLEIB 22