'People Problems' Sink Most StartupsBy
It’s not undercapitalization, lack of planning, or failure to test the market that most often cause startup business failures, says Noam Wasserman, a 42-year-old associate professor at Harvard Business School. Instead, nearly two-thirds of early stage failures stem from people problems—who does what and how they’re compensated, says Wasserman, who has written a new book, The Founder’s Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup (Princeton University Press, 2012). I spoke to Wasserman recently about his conclusions on startup failure and how he recommends would-be entrepreneurs increase their odds of success. Edited excerpts of our conversation follow.
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