January 15, 2015
In a 2006 essay written by Y Combinator’s Paul Graham, he lays out the eighteen startup mistakes that lead to, well, startup failure. Setting aside the obvious issue of making a product or service that people don’t even want, Graham talks about other mistakes that startups commit that ultimately lead to their demise. Recently, Funders and Founders posted a minimalist infographic that depicts all eighteen startup mistakes.
Earlier this month, we looked at the top twenty reasons for startup failure. In that previous coverage, we looked at the data from CB Insights which gathered information on various startup founders’ explanations for why their startups failed. While the information presented in the infographic below was not gathered through similar data analysis, Graham is an authoritative figure in the startup space – so, he knows what he’s talking about. Indeed, when you compare the startup mistakes on his list versus the top reasons from CB Insights, there are many similarities, including bad location, ignoring customers, and running out of funding (duh). What’s surprising, though, about Graham’s startup mistakes is that despite its having been written in 2006, the factors he points out are no less valid today, with today’s startups falling out of the market due to these same mistakes.
Check out the 18 startup mistakes that lead to failure:
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