Over 90% of Startups Fail! Shocking News: ‘Premortem’ and other Management Tools Can Reduce Enormous Financial and Psychological Damages
“Hello, Ram please come in. We are meeting after a long time. I have been meaning to speak to you and other classmates to plan a celebration for our start-up champion Lakshmikant’s entry into the ‘Unicornians Club’,” said Hari, who was the Vice-Chairman of his family-owned company. “That will be a prolonged wait, Hari.” “Why do you say that?” “Because Lakshmi (wealth) is gone, the start-up has failed, and ‘Can’t' rather Kant is not meeting anyone. “How tragic! But he had raised very large amounts of funds. Was he cheated by someone?” “Not at all. It was all his doing. He ‘burnt the money’ and the firm went bust.” “You are joking. Surely, no one burns money intentionally.” “You’ll be surprised by how many do. It wasn’t just Lakshmikant. According to reports, more than 90% of start-ups fail and the main cause is because they are burning money.” "Business is always risky and failure is, in some ways, implicit. But failures on such a large scale are a mystery. Your descriptio