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Unicorn Tears
book

Unicorn Tears

by Jamie Pride
January 2018
Beginner to intermediate content levelBeginner to intermediate
200 pages
3h 48m
English
Wiley
Content preview from Unicorn Tears

CHAPTER 2F IS FOR FAILURE

Before we can analyse startup failure we need a common understanding of what a startup is. In his book The Startup Owner’s Manual, the respected educator and entrepreneur Steve Blank defines a startup as a temporary organisation in search of a scalable, repeatable, profitable business model’. Once a startup finds and successfully demonstrates a business model it transforms into a more structured corporation, and sadly loses some of its startup DNA.

What is the DNA of a startup? In its simplest form, a startup is a business that occupies a space at the intersection of three elements: founders, funding and business model (figure 2.1, overleaf):

  • Founders: Someone has to do the work. Whether through a sole founder, a partnership or a hired team, startup success is usually heavily influenced by the people and personalities who work there — and those founders need to be fit enough to lead the business.
  • Funding: Sooner or later (usually sooner), startups require capital in order to develop a product and go to market. That capital can come from bootstrapping a business yourself, from friends and family, or from venture capitalists. Regardless of the source, startups cannot survive without money.
  • Business model: The seed of a startup is an idea, out of which grows a product and a business model. Most startups are defined by their idea; that said, this is usually the least important factor in their success. What is more important is solving a relevant problem ...
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ISBN: 9780730348696Purchase book