Is anyone else tired of the recent slew of articles broadcasting the "top reasons" start-ups fail? Yes, it's a timely story - the economy's down, and that's a reason businesses fail! - but it's been replayed about as many times as the old "how to improve your business plan" chestnut. That is: Way.Too.Much. Not only that, no matter what "expert" VC, angel, or entrepreneur the reporter interviews, the reasons they cite are always the same, and they're always obvious. Really, it doesn't take an MBA to figure that if you "don't hire the right people" your business is going to struggle. So with that in mind, here's our top five list of the most egregious examples of totally obvious "reasons why start-ups fail" packaged as hot expert advice straight from recent newspaper clippings:
"They don't raise enough money"
A lack of cash causes start-ups to fold? You're kidding!
"They hire too fast."
This concept is apparently rocket science: hiring too many people before you have the cash flow to pay for them will kill your business. Get it?
"They don't listen to their customers"
In an entrepreneur's defense, they can be really annoying to listen to.
"They don't change their business model when it becomes flawed."
If you can't figure out that you should change your business model when it's broken, you probably shouldn't be in business to begin with. But thanks for the insight!
"They have bad luck."
When you can't actually figure out how you screwed up your business, blame bad luck, the economy, your investor, and, if all else fails, George W. In that order.
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