They spend the money they raise too fast. “Conserve your cash,” Entress said. It’s very difficult to raise more funds, especially these days.
They react too slowly to changes in the market. This includes things like not changing their overall cost structure quickly enough, not cutting staff deeply enough, and not adjusting the business model.
They don’t hire the right team as the business grows. Startup founders often don’t “scale” to large public company CEOs.
They don’t listen to their customers. Customers can be “sold,” but they usually know better than you what they want.
They don’t change their business model when it becomes obvious that it is flawed. Be decisive, be flexible, learn what works and do more of it.
and the rest of the top ten is here.
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