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Why Startups Fail Lance Weatherby blog.weatherby.net @lance Georgia Tech Entrepreneurs Society November 8, 2010

Why Startups Fail

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Page 1: Why Startups Fail

Why Startups Fail

Lance Weatherby

blog.weatherby.net

@lance

Georgia Tech Entrepreneurs Society

November 8, 2010

Page 2: Why Startups Fail
Page 3: Why Startups Fail

#1 The Team Sucks

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Never Started Before

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And Don’t Listen to Those That Have

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Team of One

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No Technical Founders

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No Designers

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No Biz Dev

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No Internet Marketers

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People are Messy

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#2 Afterthought Marketing

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Do What’s Cool

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Go Viral

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Cool != Good Concept

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Don’t Do What’s Needed

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The Purpose of a Business is to Create & Keep Customers

Peter Drucker

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Customer Must be Central Focus

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Don’t Talk With Market

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To Understand Problems

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To Build Something Someone Wants

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No Users

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Which Leads toThrashing Lack of Focus

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Field of Dreams Growth Plan

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Get Out Executed

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#3 Money

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Have No Money

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And No Idea How To Get Some

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You Have a Plan

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But No Product

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And No Skills to Make It

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Want Millions For Stupid Idea

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So You Can Hire a Team

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Pay for a Comfortable Life

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To “Market”

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When You Need $25k For V1

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To Get Users

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To Get Feedback

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To Improve Product

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Till Someone Will Pay

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Paying Customers the Best Source of Funding

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#4 Too Complicated

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Lack of FocusI’ve Said it Twice Now

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Lack of Base Technology

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Nobody Can Build It

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Too Many Yeses

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“They Don’t Get it”

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Timing

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Why Startups Fail

•The Team Sucks

•Afterthought Marketing

•Money

•Too Complicated

Or some random kablooey

Page 50: Why Startups Fail

Why Startups Fail

Lance Weatherby

blog.weatherby.net

@lance

Georgia Tech Entrepreneurs Society

November 8, 2010