Why Startups Fail

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Presentation to Georgia Tech student entrepreneur society.

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Why Startups Fail

  1. 1. Why Startups Fail Lance Weatherby blog.weatherby.net @lance Georgia Tech Entrepreneurs Society November 8, 2010
  2. 2. #1 The Team Sucks
  3. 3. Never Started Before
  4. 4. And Don’t Listen to Those That Have
  5. 5. Team of One
  6. 6. No Technical Founders
  7. 7. No Designers
  8. 8. No Biz Dev
  9. 9. No Internet Marketers
  10. 10. People are Messy
  11. 11. #2 Afterthought Marketing
  12. 12. Do What’s Cool
  13. 13. Go Viral
  14. 14. Cool != Good Concept
  15. 15. Don’t Do What’s Needed
  16. 16. The Purpose of a Business is to Create & Keep Customers Peter Drucker
  17. 17. Customer Must be Central Focus
  18. 18. Don’t Talk With Market
  19. 19. To Understand Problems
  20. 20. To Build Something Someone Wants
  21. 21. No Users
  22. 22. Which Leads to Thrashing Lack of Focus
  23. 23. Field of Dreams Growth Plan
  24. 24. Get Out Executed
  25. 25. #3 Money
  26. 26. Have No Money
  27. 27. And No Idea How To Get Some
  28. 28. You Have a Plan
  29. 29. But No Product
  30. 30. And No Skills to Make It
  31. 31. Want Millions For Stupid Idea
  32. 32. So You Can Hire a Team
  33. 33. Pay for a Comfortable Life
  34. 34. To “Market”
  35. 35. When You Need $25k For V1
  36. 36. To Get Users
  37. 37. To Get Feedback
  38. 38. To Improve Product
  39. 39. Till Someone Will Pay
  40. 40. Paying Customers the Best Source of Funding
  41. 41. #4 Too Complicated
  42. 42. Lack of Focus I’ve Said it Twice Now
  43. 43. Lack of Base Technology
  44. 44. Nobody Can Build It
  45. 45. Too Many Yeses
  46. 46. “They Don’t Get it”
  47. 47. Timing
  48. 48. Why Startups Fail • The Team Sucks • Afterthought Marketing • Money • Too Complicated Or some random kablooey
  49. 49. Why Startups Fail Lance Weatherby blog.weatherby.net @lance Georgia Tech Entrepreneurs Society November 8, 2010

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