by Katharina Familia Almonte
Infographic, Report, Startups, Study
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A recent study by the Kauffman Foundation shows that more than 90 percent of the job growth in the United States comes from highly scalable startups, although 90 percent of newly funded startups fail. One-year-old firms create on average nearly 1 million jobs, while ten-year-old firms create only 300,000. These results underline the importance of the startup scene. Yet there is such a lack of research going really into details about its success factors. Why is it so difficult to survive and what are the common mistakes of startups?
Well, here comes the answer: The Silicon Valley based startup blackbox just released a report about what makes startups successful. The authors Bjoern Lasse Herrmann and Max Marmer interviewed 1,000 startups and came to quite interesting results. They defined 4 stages a startup goes through and found out that those who skip one of them, are more likely to struggle.
The report comes with a bunch of figures and charts showing e.g. numbers of employees by stage, key challenges at a certain stage or competitive advantages. It comes to five essential findings:
- Don’t be afraid to change
- Seek out mentors
- Don’t look to investors for the day-to-day
- Get tech support
- Plan accordingly
To get the full report, go to startupgenome.cc or look at the infographic below! (I love infographics! )