Why Startups Fail
A New Roadmap for Entrepreneurial Success
(Sprache: Englisch)
If you want your startup to succeed, you need to understand why startups fail.
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If you want your startup to succeed, you need to understand why startups fail.Whether you re a first-time founder or looking to bring innovation into a corporate environment, Why Startups Fail is essential reading. Eric Ries, founder and CEO, LTSE, and New York Times bestselling author of The Lean Startup and The Startup Way
Why do startups fail? That question caught Harvard Business School professor Tom Eisenmann by surprise when he realized he couldn t answer it.
So he launched a multiyear research project to find out. In Why Startups Fail, Eisenmann reveals his findings: six distinct patterns that account for the vast majority of startup failures.
Bad Bedfellows. Startup success is thought to rest largely on the founder s talents and instincts. But the wrong team, investors, or partners can sink a venture just as quickly.
False Starts. In following the oft-cited advice to fail fast and to launch before you re ready, founders risk wasting time and capital on the wrong solutions.
False Promises. Success with early adopters can be misleading and give founders unwarranted confidence to expand.
Speed Traps. Despite the pressure to get big fast, hypergrowth can spell disaster for even the most promising ventures.
Help Wanted. Rapidly scaling startups need lots of capital and talent, but they can make mistakes that leave them suddenly in short supply of both.
Cascading Miracles. Silicon Valley exhorts entrepreneurs to dream big. But the bigger the vision, the more things that can go wrong.
Drawing on fascinating stories of ventures that failed to fulfill their early promise from a home-furnishings retailer to a concierge dog-walking service, from a dating app to the inventor of a sophisticated social robot, from a fashion brand to a startup deploying a vast network of charging
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stations for electric vehicles Eisenmann offers frameworks for detecting when a venture is vulnerable to these patterns, along with a wealth of strategies and tactics for avoiding them.
A must-read for founders at any stage of their entrepreneurial journey, Why Startups Fail is not merely a guide to preventing failure but also a roadmap charting the path to startup success.
A must-read for founders at any stage of their entrepreneurial journey, Why Startups Fail is not merely a guide to preventing failure but also a roadmap charting the path to startup success.
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CHAPTER 1What Is Failure?
The news that Jibo would shut down broke some hearts. Indeed, it was a sad day for many in March 2019 when he announced, "The servers out there that let me do what I do are going to be turned off soon. I want to say that I really enjoyed our time together. Thank you very, very much for having me around. Maybe someday, when robots are way more advanced than today, and everyone has them in their homes, you can tell them that I said hello." Then, for the last time, Jibo did one of his signature dances.
Jibo was a social robot, engineered to create an emotional connection with humans. Spawned in the laboratory of MIT Media Lab professor Cynthia Breazeal, who pioneered the field of social robotics, he had a six-inch-wide stationary conical base that was topped by another cone, and then by a hemispherical head. Each segment of his body could swivel and tilt independently, allowing the twelve-inch-tall robot to move in expressive ways. Jibo could twerk! His head featured a flat touch screen that normally displayed a blinking, glowing white orb, akin to a single eye. The overall design was sleek and minimalist; Jibo wasn't designed to resemble a human, but in many ways he could communicate like one.
Festooned with cameras, microphones, and speakers, Jibo was an engineering marvel with the personality of a clever, helpful twelve-year-old boy. Jibo spoke responses to voice prompts (e.g., "Hey Jibo, what's the weather?"), and his screen could also display requested information (e.g., "It's fifty degrees and sunny") or icons for menu options. A blue ring around Jibo's waist lit up when he was listening. The robot also employed sophisticated software that recognized faces and voices. Coupled with his ability to rotate fluidly around his base, these features allowed Jibo to keep his eye directed at an individual as she walked around a room or to turn from one person to another as they conversed.
Jibo could serve up basic information such
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as news, sports scores, and stock prices. He could tell jokes, play music, set a timer, and read email. But Jibo had other capabilities, too. For example, Jibo was programmed to initiate conversations say, greeting a family member upon his arrival home ("Hey, Tom, before you left this morning, I warned you that traffic would be heavier than normal. How was your commute?"). He could also interact with a child and display images while reading her a story; take family photos; and, of course, dance on command. More such applications were under development, including the ability to engage a home-alone pet by recognizing that he was in the room and even speaking to him ("Stop chewing that shoe, Rover"). The team was also close to launching a videoconferencing feature that could identify and zoom in on whoever in the room was speaking perfect for a call to Grandma during a family dinner, if she had a Jibo, too.
For two decades, Breazeal's research teams had studied how robots can provide companionship for the elderly, encourage autistic children to engage in social interaction, and spark collaborative creative learning, among other useful functions. In 2013, she and co-founder Jeri Asher, a healthcare entrepreneur, raised $2.2 million in seed funding to commercialize these inventions. To serve as CEO, they recruited Steve Chambers, then president of Nuance Communications, the leading provider of natural language understanding and speech recognition software.
Because Breazeal's research had shown how social robots could contribute to seniors' emotional wellness, the team initially pitched Jibo as a companion for the elderly. However, mainstream VCs interested in consumer electronics and complex systems like robots weren't interested in the elderly market, and the small set of investors who funded new ventures for aging consumers accustomed to simpler concepts like cellphones with large keypads were daunted by the pro
For two decades, Breazeal's research teams had studied how robots can provide companionship for the elderly, encourage autistic children to engage in social interaction, and spark collaborative creative learning, among other useful functions. In 2013, she and co-founder Jeri Asher, a healthcare entrepreneur, raised $2.2 million in seed funding to commercialize these inventions. To serve as CEO, they recruited Steve Chambers, then president of Nuance Communications, the leading provider of natural language understanding and speech recognition software.
Because Breazeal's research had shown how social robots could contribute to seniors' emotional wellness, the team initially pitched Jibo as a companion for the elderly. However, mainstream VCs interested in consumer electronics and complex systems like robots weren't interested in the elderly market, and the small set of investors who funded new ventures for aging consumers accustomed to simpler concepts like cellphones with large keypads were daunted by the pro
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Autoren-Porträt von Tom Eisenmann
Tom Eisenmann
Bibliographische Angaben
- Autor: Tom Eisenmann
- 2021, Internationale Ausgabe, 368 Seiten, Maße: 15,8 x 23,3 cm, Kartoniert (TB), Englisch
- Verlag: Currency
- ISBN-10: 0593239393
- ISBN-13: 9780593239391
- Erscheinungsdatum: 30.03.2021
Sprache:
Englisch
Pressezitat
Launching and scaling a startup is like a game of chess: It requires laser focus, relentless prioritization, and contingency strategies galore. I ve always wished there was a guidebook to help entrepreneurs avoid common pitfalls on their way to wherever they re headed. Eisenmann has truly helped illuminated a path to success by shining a spotlight on common startup failure patterns. His insights are invaluable, whether you re just getting started, or you re eyeing your endgame. Jenn Hyman, co-founder and CEO, Rent the Runway It s no secret that having a great idea isn t enough to guarantee your success as an entrepreneur. I see it all the time on Shark Tank: Even the brightest, most driven founders with the most innovative ideas sometimes find themselves going down the wrong path and facing the decision of whether or not to close their business. Why Startups Fail is the perfect roadmap that each entrepreneurs needs to have in their back pocket to help them avoid those heartbreaking choices and continue to grow their business. Daymond John, star of ABC s Shark Tank and New York Times bestselling author of The Power of Broke, Rise and Grind, and Powershift
Once you start reading this book, you won t be able to put it down. Eisenmann has masterfully explained in a clear, thoughtful way why startups fail in a clear, thoughtful way. This is a must-read for any entrepreneur, investor, or startup team member. By avoiding the biggest reasons companies fail, we will see more entrepreneurial success, which is something society needs more than ever. Michelle Zatlyn, co-founder and COO, Cloudflare
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