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Why Startups Fail

  1. 1. WHY STARTUPS FAIL: AND HOW YOURS CAN SUCCEED NOVEMBER 6, 2012 DAVID FEINLEIB THE BIG DATA GROUP THEBIGDATAGROUP.COM 1 Copyright © 2012 David Feinleib
  2. 2. BLOGS.FORBES.COM/DAVEFEINLEIB 2
  3. 3. WHAT IS FAILURE? BLOGS.FORBES.COM/DAVEFEINLEIB 3
  4. 4. BLOGS.FORBES.COM/DAVEFEINLEIB 4
  5. 5. IRONMAN FRANCE 2012 3.8KM Swim 180KM Bike 42KM Run Participants 2500 Finishers 2035 81.4% DNF 466 BLOGS.FORBES.COM/DAVEFEINLEIB 5
  6. 6. HOW TO FINISH AN IRONMAN 1) Commit 2) Prepare 3) Survive BLOGS.FORBES.COM/DAVEFEINLEIB 6
  7. 7. HOW TO BUILD A SUCCESSFUL STARTUP 1) Commit 2) Prepare 3) Thrive BLOGS.FORBES.COM/DAVEFEINLEIB 7
  8. 8. WHY PEOPLE DON’T FINISH THE IRONMAN Internal causes 1) Lack of preparation 2) Run out of energy 3) Run out of time External causes 4) Mechanical failure 5) Accidents 6) Weather BLOGS.FORBES.COM/DAVEFEINLEIB 8
  9. 9. WHY STARTUPS FAIL Internal causes 1) Market 2) Product 3) Entrepreneur External causes 4) Environment changes BLOGS.FORBES.COM/DAVEFEINLEIB 9
  10. 10. MARKET 10
  11. 11. PICK THE RIGHT MARKET, NOT JUST A BIG MARKET Fast food in China is a huge market That doesn’t mean you should pick it BLOGS.FORBES.COM/DAVEFEINLEIB 11
  12. 12. MARKETS: THE TREND IS YOUR FRIEND 1) Big Data 2) Cloud 3) Mobile 4) Social Decade long trends driving change Customers have to buy Multiples are higher BLOGS.FORBES.COM/DAVEFEINLEIB 12
  13. 13. PRODUCT 13
  14. 14. 14
  15. 15. THE SEARCH FOR PRODUCT-MARKET FIT 1) Get out of the building 2) Listen to the data 3) Get to market BLOGS.FORBES.COM/DAVEFEINLEIB 15
  16. 16. DELIVER A TRULY GREAT PRODUCT 1) KISS: Keep it simple, stupid One great feature trumps many good ones 2) Make it easy to use/buy Build sales into the product 3) Understand your users Build analytics into the product BLOGS.FORBES.COM/DAVEFEINLEIB 16
  17. 17. PRODUCT-MARKET FIT BLOGS.FORBES.COM/DAVEFEINLEIB 17
  18. 18. ENTREPRENEUR 18
  19. 19. FAIL FAST Was Odeo - podcasting Was Burbn - mobile location checkin Was PDA payments BLOGS.FORBES.COM/DAVEFEINLEIB 19
  20. 20. FUNDRAISING 1) Pitching burns time 2) Greed vs fear 3) Framing: buying, not selling 4) Vision or traction 5) You are the product BLOGS.FORBES.COM/DAVEFEINLEIB 20
  21. 21. TAKING RISK IS THE FIRST STEP BLOGS.FORBES.COM/DAVEFEINLEIB 21
  22. 22. FOR MORE INFORMATION David Feinleib dave@thebigdatagroup.com BLOGS.FORBES.COM/DAVEFEINLEIB 22

Editor's Notes

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  • Failure is *not* taking risk\n
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  • 2 phases of startups: exploration (search for product-market fit) and growth\n
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