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Seven out of ten start-ups fail. The reasons for failure are well-known. Yet founders often fail to approach the topic of failure with the seriousness and commitment it deserves. This book aims to change that and offers a new approach for founders to "drive their start-up off a cliff." Structured as a "how-to guide to failure," it highlights the most common mistakes founders make, explains where they come from, and illustrates them with real-life examples. The goal of the book is to help founders make the "right" mistakes in order to fail more efficiently (and perhaps help them avoid making these mistakes in the first place). The book includes an interview with German "start-up legend" Prof. Günter Faltin.
Carsten Lexa, LL.M. is a commercial lawyer with offices in Berlin and Würzburg (Germany). He is an expert in the field of company foundations and (co-)founder of 4 companies. In addition he is also a lecturer on Business & Corporate Law, Business Administration, Financing of Business Models, Leadership and Digital Transformation, a co-initiator of the Würzburg start-up initiative "Gründen@Würzburg" (Germany) and responsible for cooperations between start-ups and SMEs in the "IWR Internationaler Wirtschaftsrat" (Berlin). Carten Lexa also acts as an ambassador for the leading German entrepreneurship award "Großer Preis des Mittelstands" and was World President of the G20 Young Entrepreneurs' Alliance and a member of the B20 Taskforces.
Émilie Nollet is an Associate Manager for Sia Partners in Montréal (Canada). She holds a holds a Ph.D. in Business Administration, Options Management, Strategy and Entrepreneurship from HEC Montréal (Canada) and is a certified mediator and administrator. Besides being a lecturer on Entrepreneurship and on Corporate Social Responsibility, she was a senior partner at Heptagon Consulting, a consultant in CSR and ESG Business Practices and Development and the founder of the Canadien start-up Écosystèmes Alimentaires Urbains Inc.
Introduction - Too little attention is paid to start-up failures worldwide.- The entrepreneurial mindset - I am not an entrepreneur.- Commercial and technical knowledge - Knowledge is so yesterday.- The idea - Why it is everything and the business concept is nothing.- The product - When customers (and markets) do not know what is good for them.- Customer needs - If customers don't understand what they need, it's their own fault.- Selling - Nobody needs marketing and sales.- The Team - Don't waste time with interpersonal issues.- Leadership - Finally, let´s live the power.- Investors - Money talks.- Taking care of yourself - Ignore yourself, focus on the business.- The bonus chapter - Socially and environmentally responsible business are overrated.- The end: A few words on a closing note.- Interview with Prof. Dr. Günter Faltin: How to fail as a founder.
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