John Kim on Why Startup Founders Fail

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Welcome to Startup Strategist. It's Tuesday, and we hope today's topics will make your day just a little bit better.

• News: (1) “Microsoft Forms AI Partnership With News Startup Semafor” (PYMNTS), (2) “Jua raises $16M to build a foundational AI model for the natural world, starting with the weather” (TechCrunch)

• John Kim on Why Startup Founders Fail

• Resource: Pocketbook guide for starting business

• StratupAI Idea: Small-Scale Anaerobic Digesters

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News

“Microsoft Forms AI Partnership With News Startup Semafor”(PYMNTS)

Though human journalists will write the stories, AI will be used as a '“research tool”.

“Jua raises $16M to build a foundational AI model for the natural world, starting with the weather” (TechCrunch)

Predicting weather is relevant to industries like energy, agriculture, etc.

John Kim on Why Startup Founders Fail

I recently listened to “Why 90% of startup CEOs fail”.

First, founders overprioritize timely ideas, rather than ideas that are aligned to the strengths of the founder, according to John Kim.  

A prospective founder could say they wish to become an expert in said timely field, which is possible of course.   

Much, though not all, of the outsized success people experience attributable to timeliness is a result of luck, rather than foresight or vision.  

Kim then says one should try to imagine yourself doing your current project for 10 years. If you can't, it may be a sign that you should pivot to something you care more about. This statement can be harmful if misinterpreted, as experimentation and working on short term projects that you don’t have a long-term plan for can be valuable. 

Another cause of failure is a lack of communication with customers or future customers, he says.  

Finally, you should seek out companies or people that are one or two steps ahead of you. Interview them and establish patterns or relevant insights. This is a recurring principle brought up I find.   

Though talking to a person or company that is much more successful than you can be useful, whatever you learn from talking to someone “one or two steps ahead” can be more actionable or directly relevant.

Resource

StratupAI Idea: Small-Scale Anaerobic Digesters

“One common frustration for homeowners and businesses is the lack of an efficient and affordable solution for converting organic waste into renewable energy. A viable startup idea is to develop small-scale anaerobic digesters that can efficiently convert organic waste into biogas and organic fertilizer. These digesters can be easily installed on-site, providing a sustainable solution for waste management while producing renewable energy.”

-Stratup.ai

Disclaimer: The startup ideas shared in this forum are offered for general consideration and discussion. Individuals utilizing these concepts are encouraged to exercise independent judgment and undertake due diligence per legal and regulatory requirements.

That’s all for today, thanks for reading. See you on Friday.

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