Lessons to learn from Start-up failure
This week we are releasing our new growth hacking guide and have a bit of a growth hacking and start-up theme across the blog. Although we focus on the marketing side of start-ups pretty exclusively, it interesting to look at why start-ups fail, and see how this fits in with marketing issues.
A study by Quartz looked at 87 bootstrapped (that's Californian for growing without venture capital funding) start-ups which failed, to find out what caused their eventual downfall. Only 2 explicitly blamed poor marketing, which isn't a huge amount, although is above pricing issues, legal challenges or burn out, which are no small matter. If you're running a start-up or work for one it's a great chart to spur thinking and maybe even do a bit of soul-searching to think about where your weaknesses are and how you can avoid the most common traps.
- Source: Quartz
- Data-set: 87 Start-ups without venture capital funding, primarily based in America
- Date: May 2016