Mistakes that don’t (necessarily) kill startups
No one expects to become a statistic. But the sobering statistic is everywhere:
90% of startups fail.
Almost every entrepreneur launches their business with a potent mix of hope and exhilaration.
They have big dreams.
They see freedom — and maybe a magazine cover or two.
According to CBInsights, the failure usually comes just 20 months after the first round of financing.
And the news is even worse for consumer hardware startups, like Jawbone, Pearl, Hello, and Doppler Labs (RIP). A full 97% of seed or crowdfunded hardware companies will eventually lose the fight.
Studying failure can help us stay on the right side of those dreams and hopefully prevent yet another sad crash-and-burn story.
Even when companies take a spectacular nosedive, the survivors live to tell the tale. If you listen closely and learn what went awry, odds are better that you’ll avoid the same fate.
My company, JotForm, has grown to serve 4 million users, but I’ve also had several failed products. We’re talking launching-to-crickets silence. Total apathy.
For example, I built membership software for college sororities and fraternities, but no one was…
