8 founders Tell the lesson of failure to start a business

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Failure, which is a common thing around founders of startups. In Silicon Valley, this is almost an honor. But according to statistics, failed startups are still a scary statistic, so what are the reasons why these startups really fail? What lessons can we learn from them?

We interviewed young entrepreneur Council (YEC), 8 successful founders, and asked them to share the reasons for the failure of the company they originally created-and how did they do it?

1. We're not concentrating.

The first company I created, the team at the time, had a very ambitious idea that was dedicated to encouraging people to make sustainable use of objects. If we can contact some people to track how often they can continue to use small objects, such as water bottles that have been used to refill them, reuse paper bags, and so on. We can build a culture where people around us think sustainable use is universal. It's not just changing our habits, but we think it's a vital element to play this 17812.html > sustainability. Sustainable education is also a key element. At the same time, we believe that social sharing is also important. We had a lot of ideas at the time.

If I recreate this company, I will focus on encouraging the root causes of sustainable behavior and starting with only one. Now we see a lot of companies going into this area, but each company is focused on one of those things. So, when you start a company, focus on it and then expand. --aaron Schwartz, Modify Watches

2. It's too early for us to enter the market

My first company failed because it was a premature idea to enter the market. We want to help people understand the risks of social media at the corporate level. What we didn't think of was that people in those businesses didn't know what social media was. So we need to spend a lot of time explaining to people what social media is and there's no chance for us to explain what we really want to do.

If we were to do this again, we would first engage in social media training for businesses and then put forward hidden risks and risk mitigation options. This time, we must ensure that our products or services are mature and then put into the market operation, so that users do not need us to explain also very much like this product, service. -Benish Shah, Vicaire Ny

3. We didn't handle the cash flow.

Data is not just a business of oxygen, but also a very important indicator. When I was a teenager, I focused on the job I liked: Innovation, sales, and growth. I have been spending money to improve my business until one day, I only left a big box of IOUs, nothing left. If I had been able to choose a good job, maintain my cash flow and recover the accounts receivable, my company would have avoided the eventual failure.

In the next company I created, I was very focused on viewing, researching financial reports and hiring an accounting executive. If your financial data goes wrong, you won't be far away. -Kent Healy, the Uncommon Life

4. The time we met was not good.

The first company I created was a good result at first and got a seed-round investment, but in the end, we failed. Our business model was based on job ads. We released the most popular beta version. Needless to say, it is harder to sell job ads in the autumn of 2008 than in the spring of 2008. Each of us raised 25,000 of dollars to create the company, but our money ran out quickly, and soon we ran out of seed rounds. We are faced with two options-either by borrowing more money or by shutting down the company.

Then I asked myself, "Is this idea worth more?" And the answer is, no! The best decision I made was to create the company, and the best decision I made was to make up my mind to close the company. So it's important to know when to launch. -Kasper Hulthin, Podio

5. We don't have a user

There are so many experiences of business failure that I have summed up a lot of experience to make my final success. Especially when I realized that my product had to adapt to the needs of my users. When my users agree with the value of my product, the sale of the product is by no means a problem. –brian Moran, get 10,000 Fans

6. We don't have a problem with hiring.

The first company was created by my brother and me, and the company failed because it was hijacked by the employees we hired. I can only say that when recruiting staff, we must choose those who are sincere, honest and trustworthy. Learn to use the law to protect your own company, and to control human costs and lean operations. -Ziver Birg, Zivelo

7. We have different motives.

In college, I tried to create an apartment listing site with my two roommates. They started out very actively, but when they realized how much energy and effort was needed to get involved in the job, their passions subsided when they took photos of the city's Madison apartment in the winter and collected information from landlords to edit the miscellaneous work. Our promising project has slowly failed, not only because it is hard to keep up with these trivial tasks, but also because my partners are gradually losing interest in their learning, partying and girlfriends.

Today, I prefer to create my own company and hire people to do my job, instead of starting with the two partners I mentioned. -Nathan Lustig, Entrustet

8. We didn't think about how to deal with the worst-case scenario at the start of the venture.

In the past, I have created three companies with partners. The first company we developed to 7-digit size, and the partnership is also very good. The second company didn't come this far because I didn't think about how to deal with the issue of partner equity. In this case, I started to belittle the value of my contribution to the company's business development, but later, I traded a very high price for a small share of the shares.

So, consider these questions in advance and ask yourself, "What if x happens?" When you create a company, write these worst-case scenarios into an agreement so that everyone has the same idea at the outset. When I finally realized that I could no longer play a role when the company had a role change and I could not agree with the stakes I had previously agreed to, the motivation for entrepreneurship disappeared, staff morale dropped, and the company's business progress stalled. -Trevor Mauch, Automize, LLC (Edit/Hiroshi) Via:readwrite