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7 Classic Start-Up Founder Mistakes (and How to Avoid Them)

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7 Classic Start-Up Founder Mistakes (and How to Avoid Them)

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They’re not as deadly as the seven sins, but these seven classic start-up mistakes can spell the end of any founder’s vision.

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According to Bloomberg, 80% of new businesses fail within the first 18 months. To help prevent your firm from becoming another statistic, Kathryn Minshew, one of Forbes’s “30 Under 30” in 2011 and 2012, lists what she sees as the seven most common missteps business founders take. Minshew confidently relays her personal experiences – successes and failures alike. While her use of expletives in a professional arena may not set the best example for fledgling entrepreneurs, getAbstract believes Minshew’s oration holds valuable counsel for rookie entrepreneurs.

Summary

The start-up ecosystem is replete with tales of success and failure. How can you prevent your start-up from becoming the next hard-luck story? Kathryn Minshew, CEO of an online recruitment service, lists the seven most common errors that derail rookie entrepreneurs:

  1. “Idea vs. product-market fit” – Your market research must solicit the opinions of objective individuals beyond your close friends and family – in other words, people who aren’t obliged to support your idea. Amass data that let you test and refine your idea in order to establish the most reliable product-market fit.
  2. “Any founders will do”

About the Speaker

Kathryn Minshew is a founder of The Muse, an online recruitment and career guidance service.

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