This is an interesting article written by Carmen Nobel of Harvard Business School. He goes on to pointing out that even though companies can fail, it can have positive future results for its founders as along as those individuals tried in honesty. In addition, this article goes on to describe some key fundamental mistakes often made by founders of startups when developing their business models.
It’s a very important practice for us in our firm at Siskey Capital when we look at companies seeking funding that we explore management mindset thoroughly as we get to know them, and their really analyze their business model approach. We don’t particularly analyze those business models for flaws or compare them with other similar industries more so, we review those business models on management’s approach and realism on how they have paved their plan on achieving those goals.
A good read.