Jan 22, 2011
Startup companies: reason for failure - meta analysis
Fortunately at The CementBloc I am at a successful startup that is now heading for 11 years. Now, in my line of work at analytics and technology for healthcare communications, I am continually working with young startup companies: software companies, advertising agencies, analytic consultants. Also, with downsizing, many of my talented former colleagues in the corporate world are starting their own small firms.
With this in mind I was very intrigued to read the post-hoc meta-analysis of 32 failed startups done by Chubby Brain. This is summarized as "Top 20 reasons why startups fail."
The top reasons include customer focus, responding to a dynamic marketplace, and team chemistry. But there are others as well. I encourage anyone in small business to take a look. I might also encourage those who employ small companies to look as well, for the right signs in who they are giving their contracts to.