Why Startups Fail

Zusatztext Launching and scaling a startup is like a game of chess: It requires laser focus, relentless prioritization, and contingency strategies galore. I've always wished there was a guidebook to help entrepreneurs avoid common pitfalls on their way to wherever they're headed. Eisenmann has truly helped illuminated a path to success by shining a spotlight on common startup failure patterns. His insights are invaluable, whether you're just getting started, or you're eyeing your endgame. Jenn Hyman, co-founder and CEO, Rent the Runway It's no secret that having a great idea isn't enough to guarantee your success as an entrepreneur. I see it all the time on Shark Tank: Even the brightest, most driven founders with the most innovative ideas sometimes find themselves going down the wrong path and facing the decision of whether or not to close their business. Why Startups Fail is the perfect roadmap that each entrepreneurs needs to have in their back pocket to help them avoid those heartbreaking choices and continue to grow their business. Daymond John, star of ABC's Shark Tank and New York Times bestselling author of The Power of Broke, Rise and Grind, and Powershift Once you start reading this book, you won't be able to put it down. Eisenmann has masterfully explained in a clear, thoughtful way why startups fail in a clear, thoughtful way. This is a must-read for any entrepreneur, investor, or startup team member. By avoiding the biggest reasons companies fail, we will see more entrepreneurial success, which is something society needs more than ever. Michelle Zatlyn, co-founder and COO, Cloudflare Informationen zum Autor Tom Eisenmann Klappentext If you want your startup to succeed, you need to understand why startups fail. Why do startups fail? That question hit Harvard Business School professor Tom Eisenman with full force when he realized he couldn't explain it. And since more than two thirds of new ventures fail, that left a lot of explaining to do. So he launched a multi-year research project to find out. In Why Startups Fail, Eisenmann unveils the results: six distinct patterns that account for the vast majority of startup failures. He offers frameworks for detecting when a venture is vulnerable to these patterns, along with a wealth of strategies and tactics for avoiding them. • Bad Bedfellows. Startup success is thought to rest largely on the founder's talents and instincts. But the wrong team, investors, or partners can sink a startup just as quickly. • False Starts. Despite the oft-cited advice to "fail fast," and "launch before you're ready," doing so risks wasting time and capital on the wrong solutions. • False Promises. Success with early adopters is often misleading and gives founders unwarranted confidence to expand. • Speed Traps. There's lots of pressure on startups to prioritize speed over efficiency and "Get Big Fast." But hypergrowth can spell disaster for even the most promising ventures. • Help Wanted. Rapidly scaling startups need lots of capital and talent, but they can make mistakes that leave them suddenly in short supply. • Cascading Miracles. Silicon Valley exhorts entrepreneurs to dream big; as Peter Thiel put it, "they promised us flying cars; what we got was 140 characters." But the bigger the vision, the more things can go wrong. Through fascinating stories of ventures that failed to fulfill their early promise--from home furnishings retailer Dot & Bo to the concierge dog walking service Baroo, to the makers of a sophisticated social robot named Jibo, to Better Place, which sought to build a massive network of charging stations for electric vehicles (and more)--Eisenmann shows readers how to spot and sidestep roadblocks on their entrepreneurial journey, and sets them on the fail-safe path to startup success.<B...

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Tom Eisenmann

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If you want your startup to succeed, you need to understand why startups fail.

Why do startups fail? That question hit Harvard Business School professor Tom Eisenman with full force when he realized he couldn't explain it. And since more than two thirds of new ventures fail, that left a lot of explaining to do.

So he launched a multi-year research project to find out. In Why Startups Fail, Eisenmann unveils the results: six distinct patterns that account for the vast majority of startup failures. He offers frameworks for detecting when a venture is vulnerable to these patterns, along with a wealth of strategies and tactics for avoiding them.

• Bad Bedfellows. Startup success is thought to rest largely on the founder's talents and instincts. But the wrong team, investors, or partners can sink a startup just as quickly.
• False Starts. Despite the oft-cited advice to "fail fast," and "launch before you're ready," doing so risks wasting time and capital on the wrong solutions.
• False Promises. Success with early adopters is often misleading and gives founders unwarranted confidence to expand.
• Speed Traps. There's lots of pressure on startups to prioritize speed over efficiency and "Get Big Fast." But hypergrowth can spell disaster for even the most promising ventures.
• Help Wanted. Rapidly scaling startups need lots of capital and talent, but they can make mistakes that leave them suddenly in short supply.
• Cascading Miracles. Silicon Valley exhorts entrepreneurs to dream big; as Peter Thiel put it, "they promised us flying cars; what we got was 140 characters." But the bigger the vision, the more things can go wrong.

Through fascinating stories of ventures that failed to fulfill their early promise--from home furnishings retailer Dot & Bo to the concierge dog walking service Baroo, to the makers of a sophisticated social robot named Jibo, to Better Place, which sought to build a massive network of charging stations for electric vehicles (and more)--Eisenmann shows readers how to spot and sidestep roadblocks on their entrepreneurial journey, and sets them on the fail-safe path to startup success.

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CHAPTER 1

What Is Failure?

The news that Jibo would shut down broke some hearts. Indeed, it was a sad day for many in March 2019 when he announced, "The servers out there that let me do what I do are going to be turned off soon. I want to say that I really enjoyed our time together. Thank you very, very much for having me around. Maybe someday, when robots are way more advanced than today, and everyone has them in their homes, you can tell them that I said hello." Then, for the last time, Jibo did one of his signature dances.

Jibo was a social robot, engineered to create an emotional connection with humans. Spawned in the laboratory of MIT Media Lab professor Cynthia Breazeal, who pioneered the field of social robotics, he had a six-inch-wide stationary conical base that was topped by another cone, and then by a hemispherical head. Each segment of his body could swivel and tilt independently, allowing the twelve-inch-tall robot to move in expressive ways. Jibo could twerk! His head featured a flat touch screen that normally displayed a blinking, glowing white orb, akin to a single eye. The overall design was sleek and minimalist; Jibo wasn't designed to resemble a human, but in many ways he could communicate like one.

Festooned with cameras, microphones, and speakers, Jibo was an engineering marvel with the personality of a clever, helpful twelve-year-old boy. Jibo spoke responses to voice prompts (e.g., "Hey Jibo, what's the weather?"), and his screen could also display requested information (e.g., "It's fifty degrees and sunny") or icons for menu options. A blue ring around Jibo's waist lit up when he was listening. The robot also employed sophisticated software that recognized faces and voices. Coupled with his ability to rotate fluidly around his base, these features allowed Jibo to keep his eye…