fail conference 2012 : grace walsh
TRANSCRIPT
Grace Walsh
National University of Ireland, Galway
Business Failure in High Technology Start-ups
Email: [email protected]
Internal Failure Factors
Lack of Formal Managerial Experience
Market Research
Narrow Focus Opportunism
Commitment to the Venture versus Emotional Over-commitment
LeadershipPragmatic Action by Entrepreneurs
External Failure Factors
Market ImplosionGreener Pastures
Intersection of Internal and
External Failure Factors
Timing: Market and Personal Perspective
Access to Capital
Key Lessons• Be clinical about your business• Do not view your business as an extension of
yourself• Know when to let go of an ailing firm• Reflect on your failed business and past
mistakes and learn from them• Don’t be afraid to start again• Stigmatisation is a self-fulfilled prophecy
“Some people see a mousetrap…I see free cheese and a challenge”
Scroobius Pip
Email: [email protected]