9 Flaws that Will Lead to a Tragic Startup Downfall

by Inc.

Many a startup tale has ended in woe – make sure your story is a happy one by avoiding these tragic startup character flaws.

We all know what assuming does, yet too often startup founders make decisions based on educated guesses that haven’t truly been tested. “On Day One, a startup is a faith-based initiative,” write Steve Blank and Bob Dorf, authors of The Startup Owner’s Manual, and the company’s priority should be turning those guesses into facts. To do that, direct and continuous customer contact and feedback is crucial. A large part of building a successful product is in fact leaving the building.

Getting locked in too early is another fatal flaw, Blank and Dorf explain. Focusing too much on deadlines even when they prove to be untenable; holding strictly to an untested business plan or model instead of allowing for trial and error; getting too specific and literal with job titles and roles before you actually know what those roles should be – these are all mistakes that lead to failed businesses. For more tips on how to avoid a startup downfall, read the full post, and for a complete guide to startup success, you can find The Startup Owner’s Manual here.

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The path to startup success is lined with potential pitfalls. You can learn more about specific startup slip-ups to avoid here. But even when you’ve successfully made it to the expansion stage, you still can’t afford to let up. Check out this post from the OpenView Blog on how to maintain a true sense of urgency.