When I listed my top 10 yesterday, Peter Ireland countered with his top 10 that doom a startup:
Top Ten Signs Your Startup is Doomed
10. You have convinced yourself that a well-written plan will compensate for your lack of a track record with venture capitalists.
9. You pay several thousand dollars for someone to write a business plan for you.
8. You rent an office for the startup phase.
7. You seriously consider giving away your last remaining $10,000 to a money-finder.
6. You pay a website to post your business plan for its investors.
5. You purchase a directory of venture capital firms.
4. You spend more than $200 on stationery.
3. You secretly hope that someone else will come along and relieve you of the sales function.
2. When asked how you will launch if no investors are found, your mind goes completely blank.
1. Your startup team includes an HR officer.
That’s great. Really spot on!
11. You hesitate to ask for advice because you’re afraid someone might steal your idea.
Interesting Finds