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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)

Kathryn Minshew
99U, 2014
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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.

Take-Aways

  • First-time entrepreneurs often succumb to the same mistakes before they ultimately fail. You can avoid these errors by taking heed of the following guidance:
  • Don’t conduct market research among friends and family. Seek feedback from objective individuals who can be brutally honest with you. Moreover, don’t launch your business with someone with whom you are fundamentally incompatible.
  • Don’t waste time perfecting your product. Launch a “minimal viable product” and let consumers provide feedback so you can develop a product that satisfies their needs.

About the Speaker

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

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