Ken Globerman is a private equity investment professional who provides consulting services to startups. In this article, he lists the top 20 reasons why startups fail, including lack of focus, inability to raise financing or run out of cash, flawed business models, and founders who cannot work well together or pivot when needed. He invites feedback on the list and discussion with those interested in his perspective on startup failures.
This is my personal opinion on why startups fail. Some of the points mentioned here could be unique to India as this is based on my personal experiences, of friends and family and those of people who came to me for guidance.
What are the top reasons your startup Is doomed to fail? Answers vary and originate mostly from investors and startup founders, people who have come face to face with startup failure at least once in their lives...
As entrepreneurs, our relationship to failure is redefined
Any new enterprise is a groping forward from one failure to the next.
Failure is another word for learning what doesn’t work.
Split testing
Pivot
Iterate
Course correct
Feedback
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This is my personal opinion on why startups fail. Some of the points mentioned here could be unique to India as this is based on my personal experiences, of friends and family and those of people who came to me for guidance.
What are the top reasons your startup Is doomed to fail? Answers vary and originate mostly from investors and startup founders, people who have come face to face with startup failure at least once in their lives...
As entrepreneurs, our relationship to failure is redefined
Any new enterprise is a groping forward from one failure to the next.
Failure is another word for learning what doesn’t work.
Split testing
Pivot
Iterate
Course correct
Feedback
From idea to execution: 8 steps that can make a big difference in your startu...w2s-solutions
Startup Advice from Successful Entrepreneurs - According to a Fortune Report, 90 per cent of startups collapse for many reasons. If you want to be among the 10 per cent who succeed, you have to learn from those who came before you. https://www.w2ssolutions.com
How to Improve Your Venture Capital Pitch In 5 WaysAvalon Ventures
If you are the founder of a tech startup, it’s likely that at some point you will need to pitch a venture capital firm to raise money. Here are a few simple tips from Brady Bohrmann of Avalon Ventures to help you prepare for and improve your pitch to venture capitalists.
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While 400,000 new businesses start every year, 470,000 small business will shut their doors in the same period. That’s a net loss of 70,000 businesses a year. Yet, the US has one of the highest rates of entrepreneurship in the world, and has the highest confidence rankings by a decent margin. Learn how your startup can find success by avoiding these common downfalls: http://www.brianhonigman.com/why-startups-fail/
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After thinking it over and over, have you decided to quit your job and become an entrepreneur? Good for you!! There are hundreds of opportunities out there and even though starting a business might not be easy, I applaud you being brave enough to follow your dream. And as building a company or brand takes a lot of time and effort, I would like to share some financial tips that I hope will keep you from making very common mistakes that can lead to a step back in your process.
Strategies to Become a Successful Entrepreneur.
Start with the Why. Create a Business Plan. Find the Right Market Fit. Choose Your Team Wisely. Set Smart Goals. Use OKRs and more...
E N T R E P R E N E U R S H I P
is living a few years of your life, like most people won't,
so that you can spend the rest of your life like most people can't
Entrepreneurship is a marathon; not a Sprint!
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Building a product biz that'll take a long time to reach a comfy revenue, like SaaS? Need an infusion of cash to survive? Drop that venture capitalist, and learn how to Be Your Own Angel.
Enjoy these slides with the actual audio, too! Right here:
https://unicornfree.com/2015/be-your-own-angel-a-revenue-model-for-slow-startups
Being a startup founder is hard, tough, frustrating and rewarding - possibly all within the space of a nanosecond. And yet, it is like a high none other. I have experienced it in others. And quietly, I have lived it for over six years. Here are some lessons I learned from my journey. They may not be universal, but these lessons learned have changed me both as a person and as a founder
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- How to transform your magazine business by fixing the 4 “DON’Ts”...
#1 LEADS Don’t Book
#2 PROSPECTS Don’t Show
#3 PROSPECTS Don’t Buy
#4 CLIENTS Don’t Stay
- How to identify which leak to fix first so you get the biggest bang for your income.
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2. About Ken Globerman
Previously,
Ken
spent
seven
years
in
middle
market
private
equity
where
he
led
or
directly
par9cipated
in
several
buyouts
of
technology
and
business
services
companies
opera9ng
in
the
US,
Canada
and
Europe.
Ken
started
his
career
at
WPP’s
global
media
subsidiary
MEC
(originally
Young
&
Rubicam)
where
he
was
responsible
for
managing
adver9sing
projects
on
behalf
of
Fortune
500
clients.
He
also
helped
develop
the
NYU
Doing
Business
In
Poland
program
and
organized
a
US-‐
na9onwide
MBA
business
plan
compe99on
for
Africa-‐based
startups.
Ken
received
his
MBA
with
honors
in
Finance
and
Management
from
NYU’s
Stern
School
of
Business
in
2002,
where
he
was
an
equity
valua9on
teaching
assistant,
and
BS
in
Applied
Mathema9cs
from
Carnegie
Mellon
University.
Outside
of
work,
you
can
find
Ken
training
for
his
next
triathlon
or
suppor9ng
the
sports/social
impact
enterprise
he
created,
StartLine
Founda9on
(www.startlinefounda9on.org).
Ken
Globerman
is
a
private
equity
investment
professional,
consultant,
and
educator
from
New
York,
NY.
He
currently
provides
corporate
finance,
business
strategy,
and
investor
rela9ons
consul9ng
to
small
and
midsize
enterprises
in
Central
Europe.
Ken
also
mentors
emerging
companies
with
mul9na9onal
footprints,
supports
global
startup
ini9a9ves
such
as
Startup
Weekend,
and
gives
lectures
and
workshops
in
finance,
valua9on
and
private
equity
at
the
Warsaw
School
of
Economics.
Contact
Informa,on:
Email:
ken.globerman@globalgroupventures.com
Twi=er:
@kengloberman
23. Why Startups Fail?
1. Lack of focus
2. Missing pieces on the team
3. Founders can’t get along / not on same page
4. Can’t see through your own limitations
5. Lack of Emotional IQ
6. Can’t pull the trigger
7. No tolerance for ambiguity or failure
8. Different skill sets not respecting each other
9. Can’t admit, “I was wrong”, or “I made a mistake”
10. Stubbornly stuck on “your idea” (failure to pivot)
11. No iterative approach to how you run the business
12. The business model is flawed
13. Can’t raise cash
14. Ran out of cash
15. Not hitting targets – No traction (rev, users, profit, growth)
16. Not meeting expectations of your investors
17. Focusing on the wrong target market
18. Not giving customers what they want
19. Because sometimes the better technology doesn’t win
20. Timing was off
24. Have a different list? Agree/disagree?
Contact me to discuss!
Ken Globerman
Twitter: @KenGloberman
Email: Ken.Globerman@GlobalGroupVentures.com