Top 5 Startups failures from which you can learn

NYT best-selling author — Michael Hyatt said, “I’ve let growth exceed my ability to fund my business.”

He made the ‘biggest’ mistake of borrowing money to fund his growing company in 1992. Sadly, he didn’t understand the difference between a healthy growth and a rapid growth. Ultimately, the company’s growth consumed all his capital and he failed to do come up with the demand. You can learn an important lesson from his failure:

Co-Founder and CTO of HubSpot — Dharmesh Shah said, “I made the biggest mistake of being a ‘parallel entrepreneur’”

He made the mistake of being a parallel (work in more than one) entrepreneur by heading two startups at the same time. Eventually, both of his company lost the race. His advice to all the new startups: Don’t try to ride in two boats at the same time; else you are bound to swim with the wishes. Lesson to learn:

Protect your company culture — Derek Sivers

Derek from his past experiences has learned that protecting the company’s culture is very important. The internal culture of the company never comes back once it starts getting skanky; until and unless you come up with the new team. If someone is polluting your business’s culture, then it’s better to fire that rotten egg out of your company.

Leo Laporte tried to do EVERYTHING by himself

Jeff Goins — “Everyone’s an Expert, but not everyone is a master”. Laporte’s biggest mistake was to do everything by himself viz. media, content, and technology to grow his audience. His company had stalled out after a few years of instant growth as his business demanded expert knowledge about marketing, finance, human resources, and advertising but Leo was just not ready to share his startup.

The Best-selling author and an entrepreneur — Leo Babauta got little late

Leo hated his job like most people do but not everyone has the courage to quit and do something of their own. This is fear of failure we were talking about and Leo suffered the same. Lack of belief in yourself and fear of failure is the worst combination anyone could have in them; and unfortunately Leo had it in him. First, he started late because he had THE fear; second he lost his confidence as soon as started facing problems.

We also recommend to read:

To be or not to be (a successful startup)?



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