Tom Eisenmann, "Why Startups Fail: A New Roadmap for Entrepreneurial Success" (Currency, 2021)

Why do many startups fail? Tom Eisenmann, Professor of Entrepreneurship at Harvard Business School realised that even he didn’t really know the answer, despite a lifetime teaching entrepreneurship, and decided to write a book to answer exactly that question. You can hear him go into detail on the NBN Entrepreneurship and Leadership Channel interviewed by experienced entrepreneurs Richard Lucas and Kimon Fountoukidis. Whether you want to start a business one day, or just have better conversations with people who are in business, don’t miss this “book of the day” podcast. He draws attention to a critical gap in the Lean Startup methodology which can save both dollars and time if correctly applied. This idea alone makes the podcast worth listening to. The NBN Entrepreneurship and Leadership podcast aims to educate and entertain, sharing insights based on the personal story of our carefully selected guests aiming for the atmosphere of an informal conversation in a bar or over a cup of coffee. In this episode we do go a little further into Tom’s background that normal, and give an entrepreneurial take on his ideas. He does a great job of explaining his ideas, and there is much for any entrepreneur to learn. If you want your startup to succeed, you need to understand why startups fail. That question caught Harvard Business School professor Tom Eisenmann by surprise when he realized he couldn't answer it. So he launched a multiyear research project to find out. In Why Startups Fail: A New Roadmap for Entrepreneurial Success (Currency, 2021), Eisenmann reveals his findings: six distinct patterns that account for the vast majority of startup failures. * Bad Bedfellows. Startup success is thought to rest largely on the founder's talents and instincts. But the wrong team, investors, or partners can sink a venture just as quickly. * False Starts. In following the oft-cited advice to "fail fast" and to "launch before you're ready," founders risk wasting time and capital on the wrong solutions. * False Promises. Success with e