One could argue that entrepreneurship is the purest form of business: Building the idea, team and strategy from the ground up, all while having the freedom of being your own boss and setting your own expectations. But this freedom doesn’t come without major roadblocks. The odds of a start up getting past the early stages is slim, and maneuvering around all the unforeseen tribulations makes the odds of a long-term success story slimmer.
That’s why today’s guest, Tom Eisenmann, is a much needed voice on this topic. In his new book, "Why Startups Fail: A New Roadmap for Entrepreneurial Success", Eisenmann goes through his six patterns of failure that startup’s make throughout their course, and when to take the leap and when to call it quits.
Eisenmann is the Professor of Business Administration at the Harvard Business School. He teaches the MBA elective Entrepreneurial Failure and the MS/MBA core courses Technology Venture Immersion and Launch Lab. With colleagues, he launched the MBA electives Making Markets, in which students specify and supervise development of a software application. He also created the January Term Startup Bootcamp for first-year MBAs and the MBA electives Launching Technology Ventures and Managing Networked Business, which surveyed strategies for platform-based businesses that leverage network effects.
Professor Eisenmann received his Doctorate in Business Administration, MBA, and BA from Harvard University. Prior to entering the HBS Doctoral Program, Eisenmann spent eleven years as a management consultant at McKinsey & Company, where he was co-head of the Media and Entertainment Practice. He currently serves as a director on the board of Harvard Business Publishing.
Helpful links:
Disclaimer:
BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.by