Why Startups Fail:
In my role as an entrepreneurship professor, I speak with a lot of entrepreneurs and have the privilege of hanging out at 1871 here in Chicago almost every Friday for the past few months. It’s a truly inspiring place to be and the conversations I’ve had center on all types of topics and challenges that entrepreneurs face around the world. I recently stumbled upon this infographic and I think it needs to be shared. Even if you’re not in the “startup community”, there are lessons here.
Consistency demands skill and discipline in all stages of growth. Those that are patient and disciplined about how they approach their challenges usually succeed in the long run. Before you start hiring tons of people and trying to deliver to a ton of customers, think about how the rate at which you are scaling.
The key skill and discipline needed in ALL four of these stages?? SALES! Read it and weep.