What is at stake, some may ask. Everything, we negotiate every day, knowingly or not. Be it about the added sugar in your coffee, whether you can borrow a buck from your friends, or if someone can lend you a pen. When it comes to business, you negotiate contracts, term sheets, employment agreements.
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Back in 2018 I was presenting to the Chief Marketing Officer of Fujitsu on my human centered design innovation process. It worked great for digital products and MVPs but somehow it wasn’t landing. At about the halfway point of the presentation, the CMO asked a straightforward question. “How do I create the next iPhone?” I had no idea. What happened next was a series of questions that I believe led me to unearth at least a portion of Apple’s product innovation guidelines. If I’m right let me know, if I’m wrong, also let me know.
It all started with this:
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We dove into the annals of the interwebs and decided that these eleven companies as the most spectacular startup failures of all time. We profiled based on the money raised, the total level of hype, and the impact of the fall from grace. So which startups failed most spectacularly? Let’s dive in.
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As a founder, you should be keeping track of milestones, performance, sales and everything else that’s going on with your company, but you’re busy, being pulled in twenty different ways, you have to fundraise, you’re running all sales and marketing, it’s overwhelming. How can you make sure the company is healthy aside from just your MAUs, DAUs, retention, and sales going up. How can you benchmark your startup’s operating performance?
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The general thought is that if you have a good idea and no one has done it just yet, or not in the way you’ve conceived it, then being first to market means you’ll own the market, nave no competition, and run a monopoly company in your space. For any startup founder, the pressure of launching first is real―especially when considering the possibility of your competitor beating you to market, leaving you scrambling to re-evaluate your value proposition, or having to build a war chest to go head to head. I get it. But being first to market doesn’t guarantee success
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