start-up wisdom
DESCRIPTION
TRANSCRIPT
Caroline Cummings
Director of Entrepreneurial Development | Eugene Chamber of Commerce
Start-up
Top 10 Reasons Why A Start-up FailsTop 10 Reasons Why A Start-up Fails
The Single Founder
1
The Wrong Team2
Marketing-Heavy
Tech-Heavy2
Wrong Legal Team!
3
Boiling the Ocean4
Not Talking to Customers5
Stealth to Long..
6
Slow to Launch…
6
Stuck on Original Idea7
Wrong Location!
8
Founder-itis!
9
Spending too much
money
10
Lessons…
Go With Your Gut!!!
Ask potential business attorney…
• Emerging growth business before?• How much time for you?• Raised multiple rounds of financing?• Create/Read a Capitalization Table?• Developed a PPM?• Compensation packages for new hires?• IP protection?• Global expansion?• Experience with exits – M&As, IPO, quit?• Talk to current/former client?
Date BEFORE Marriage!
Key Team Must Have Skin in the Game!
Don’t Take “Dumb Money”
Include Customers in your R&D
Ask ListenDo Thank
Include