When a start-up fails
Monday, July 21st, 2008Usually when a start-up goes under, the story of the successes and failures along the way dies with the company. By that point, the founders are exhausted by the experience, mentally and physically burned out. Too beat up to write about everything that went wrong.
But this time, we got lucky.
Roger Ehrenberg, co-founder of Monitor110, has written this excellent Post Mortem about everything that went wrong with the founding of the company. He boils it all down to “Seven deadly sins.” If you are an entrepreneur, read this article. It will help you avoid some mistakes that can be incredibly costly.
For me, I’m trying to take to heart point #5 - specifically, I need to launch my product as quickly as possible to get input and feedback from my potential customers. Otherwise, I’m developing in a vacuum.
I worked with two other companies in the past that used this post mortem approach regularly. At Let’s Go, where the staff turned over every year (only Harvard students are allowed to work at the company, and usually the managers are seniors), part of our salary was contingent on writing up a report at the end of the summer, after the books shipped to the printers, to tell the people who would have our jobs the following year what we did and why. These reports were my training manual for the job, and were incredibly valuable. At Network World, one editor would be responsible to review every issue of the magazine that came out - they would mark it up with comments and input, and would pass around the issue to every person on staff. Those reviews were always a bit painful (seeing the mistakes that we made - in print - wasn’t a whole lot of fun) but they made us better.
Good luck Roger! And thank you.

The thing that I liked the best about both of these jobs was the feeling of accomplishment that I got when something was finished. At Network World, we put the magazine to bed every Friday afternoon, and were free for the weekend. Monday morning, the issue would appear in the office, all our hard work evident in the print publication. Let’s Go was much the same way, although on an extended scale. We would work through the spring semester and summer, and at the end of the year, the updated and improved travel guide book would be released. An entire book, with your name on it, to prove that you worked hard and produced something great. (I just checked and now that book is 10 years out of date and 


I made it to the 