Over 90% of high-growth tech startups do not succeed, and most of the less than 10% that do face numerous near-failures. UC Berkeley and Stanford research indicates that 74% of high-growth tech startups fail due to premature scaling. In addition, CB Insights notes that 42% of startup founders name the lack of demand for their products as the primary cause of their business failures. In order to avoid such a scenario, David Collis, a Harvard Business School Professor of Business Administration, offers simple yet insightful advice: “Know what not to do.” Due to progressing smartification of products and services, businesses increasingly face the challenge of crafting a competitive strategy. Especially this affects entrepreneurs as they are more vulnerable to shifting market dynamics.
Lean Personal Branding (Part I)
September 27, 2023