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If you’re being honest with yourself, what is biggest reason your company failed?

  • We pursued a sexy problem that appealed to people, I loved telling folks about it at parties. But nobody actually wanted to use it. Simple as that. It was psychologically unappealing to people to use the product, though everyone wanted their friends to be using it so they could get the benefits. Getting people to share in a product is hard…

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  • We ended up hating our target market. We ended up building to over 6000 customers, but they were not the right crowd for where we wanted to take our apps.

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  • Not being willing to have the uncomfortable conversation. Simply abiding missed deadlines & broken promises brews a poisonous resentment. You can’t afford to be a nice guy all the time.

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  • Financial management + rapid growth = the demise of my old company. We had great ideas and great work, however we undersold ourselves massively because we didn’t understand the marketplace well enough and didn’t do our homework in pricing ourselves up properly.

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  • If we’re being honest, I think the demise of my startup stems from my cofounder and I were never truly interested in solving our target market’s problem. We made the mistake of building something for other people because it seemed like a great opportunity. The reality is that after the honeymoon phase of building a new startup wears off, it’s tough to really grind it out. We eventually lost our energy and interest, and moved on after never really getting enough traction.

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  • Lack of funding. When you use you personal account while your competitors get millions in Angel money + follow up money..
    Second – connections – most start-ups will use VC’s “connections” to get acquired – same money flowing form one company to another..
    Pension funds, govt etc. A few phone calls and if you have at least some half decent product you are the new “hot thing”.
    So mostly you fail because you can;t get financed (for various reasons mainly because you are not in US). or because you are a idiot. Or because you need tons of luck. Any combination of the above applies :-). for a start-up from “outside the system” it is very difficult.
    However once you are connected even an idiot can make a billion. With a little luck (facebook for example).

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