What mistakes kill startups?

Yenire leal
25 replies

Replies

CTO at Lumiar Education
A few things from the top of my mind: - Doing too much stuff, focus is mandatory on startups and it is impressive how easy it is to lose it. - Misalignment between founders, this happens very often and it's really hard to fix if it passes a certain point. We have hired specialists facilitators to realign more than once. - Not paying the right attention to the customers, it is also easy to get lost on the day to day of work (building features, hiring, etc), demands from stakeholders and so on. But if you are not paying attention to your customers there is a huge chance you are moving in the wrong direction. - And last, long feedback loops. The most important thing when building a business is to know every idea you have is an hypothesis that needs to be validated as fast as posible.
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I am SE
Poor idea implementation is one of the typical mistakes that destroys startups.
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Co-founder @ Realmonkey.co
There are many things that can kill a startup but I think the most important is the target audience. Deciding the right target and connecting with them is the way to success for any startup. Your great copy doesn't make any sense if you send it to the wrong person. It only works when it is reached by the right person.
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Chief Product Officer @swiftline.io
@sushil_sharma2 I agree. First empathize with your first users.
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Founder @Styletyx
don't think about marketing from the start. Marketing is the heart of business. No marketing, no business
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Founder of many failed projects. 👽
There are mistakes that we can see, and others we can not. I work with several projects in pre-seed and in this stage it is very common to have the same errors. Entrepreneurs focus on creating the best possible product and only then launching it instead of starting with something lean. It is very common for entrepreneurs to be motivated to start a business because they think they will get rich quickly, and this is wrong. The focus and drive should always be to solve a problem. There is still a lot of lack of self-education. It is not difficult to buy a book, watch workshops on youtube, or ask to google and learn about entrepreneurship. These are some mistakes that can be perceived from the outside. Other mistakes that happen is a weak business model, entrepreneurs don't know how to make money with the product they created, another is not having a good team and creating projects with friends and family without understanding if they are the right people for the job. These are just some ideas.
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Chief Product Officer @swiftline.io
@ricardo_marinho_goncalves Thanks for sharing your ideas. I find it valuable to learn from the mistakes that some have made. That's why we say that you learn from mistakes, you just have to be very attentive to that.
CRO specialist
Make employee pay for coffee.
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Ruby Developer && Elixir Developer
Little validation in the market to discover the real demand and urgency that the market has for your product.
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Product Designer
Imperfect implementation of high-fidelity designs. Sloppy development can plummet trustworthiness & credibility of a product very fast, making sales & marketing much harder than it needs to be.
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Some of them do not improve the knowledge of the employees. Everything there goes so quickly that they forget how to organize it.
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MD, researcher. Working on Oneplaybook
- Poor founder/team dynamics. Temet nosce always - Poor decision making processes. Always know what your goals are, always have a North star and know when you're going off course (no moving goal posts) and always be ready to pivot when something better presents itself. - Not loving the problem - Not focusing on building an awesome and relevant product that solves a high volume, high intensity problem - Not doing your homework for important things like managing finances - Not valuing team mates/employees and putting them first - Never planning for the worst - Living/hiring as if the bubble (free VC money) is never-ending (ties back to valuing employees and being honest with them from the get go) - Never taking care of yourselves (founder and team). Unhealthy practices like crunch time is a no no. - Living like an artist (fake Steve Jobs) instead of a methodical iterator (real Steve Jobs) ... Keep the list going 😉
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Chief Product Officer @swiftline.io
@absamma Your words are very right. Which of those have you seen that is repeated the most? I would say that some focus on wanting to build an awesome product and in the end they do not end up solving a problem for the consumer.
Founder of many failed projects. 👽
Totally true. That's why execution is very important. Mistakes is part of the road
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Co-Founder & CPO at Tatsam
This is the superb question you have asked here. As there are many things you can do to make the things work but if you also have the idea of what not to do or to keep an eye on, it would certainly be the value to your opinion. Just to add up my opinion on this I believe to stick with your vision in the long term and open to hear the feedbacks and criticism not only from your end users but also your team members and value them and improvising accordingly would be fruitful.
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Chief Product Officer @swiftline.io
@bhav_singh Totally. I have seen how the owners cling to their ideas and are sometimes blind to the opinions that their team may issue.
Growth Consultant and Content Strategist
Not getting your ICP
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digital marketer at Approveit
Lack of managerial skills in founders. I once worked in a great startup: a very talented team and a cool idea. It fell apart because of constant micromanagement and a total lack of communication skills of one of the founders.
Chief Product Officer @swiftline.io
@katyaveremeichik oh! I lived something similar. I totally support your comment.
Product Manager
In my mind, the main thing is trying to solve a customer's problem in a wrong way or a non-existing problem. Other staff like marketing and investments will definitely fail if you don't find the real problem that should be solved.
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I'm a young Autistic entrepreneur.
I hate to jump into this conversation, but I can't figure out why my drop off rates are sooooo high on all my products under my company https://sewellstephens.com
oVice - Metaverse for Business
- Not focusing enough on feasibility, prioritizing "cool ideas" over practical impact. - Not understanding the market well enough. - Rushing the launch too much and pushing out products that shouldn't be in production. - Having no strategy, acting sporadically. - Not setting up success metrics.
theTradeHub.net
Not sticking with your instincts is another, I believe
Software Dev Engineer 7 years of exp
Too much spending without considering your bottom line