https://www.wrike.com/blog/fatal-mistakes-startup-founders/ - We interviewed Adeo Ressi, Founder and CEO of the Founder Institute, who mentors hundreds of first-time startup founders and we asked him about the typical mistakes that first-time founders make that could prove fatal to their companies. Here then is a list of mistakes that startups must avoid.

1. Fatal Startup Mistakes6
What Startup Founders Must Avoid to Keep Their Companies Alive

2. We interviewed Adeo Ressi, an
entrepreneur who has created 9 companies
in the last 20 years and who, as Founder
and CEO of the Founder Institute, mentors
hundreds of first-time startup founders as
they grow their own businesses.
He shared with us the 6 fatal mistakes that
every startup founder should avoid:

3. Involving the wrong people
can lead to ineffectiveness,
arguments, stalemates,
and power struggles. Add
people carefully.
Selecting the wrong initial
team/cofounder
1

4. Managing compensation, stock, or
options poorly can set the
company up for failure. Take care
how you create the deals for initial
investors. Once it’s done, it's
impossible to undo.
Structuring company, cofounder,
and team deals poorly 2

5. If you pick unpopular/
unusable technology, your
company won’t grow as fast,
you’ll have trouble finding
good developers, and your
product won’t be top-notch.
Adopting the wrong
technology3

6. It's critical to pick a business and revenue
model that allows the company to grow and
(eventually) become profitable.
Selecting a poor business model 4

7. How your company will
acquire customers will make
or break your startup.
Consider your sales approach,
partnerships, and distribution
options carefully.
Choosing a weak
go-to-market model5

8. Even something like picking
the wrong company name
can be potentially fatal.
Communicate the benefits
clearly. Don't be too silly or
too difficult to pronounce,
type, or remember!
Picking the wrong name 6

9. In the genesis of a new
business, every decision that
the founder makes, large or
small, can have fatal
consequences. So take care
with each of these six points
raised by Ressi, and seek
help during this important
time period.

10. Need More?
Check out our infographic checklist on the 22
steps to launching your startup successfully.
Click to read!

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www.wrike.com

12. Images
Ancient Palace in Persepolis, Iran by Ivar Husevåg Døskeland. https://flic.kr/p/GVQBJ
Pick Me. Photo by http://www.tradingacademy.com
Money by Pictures of Money. https://flic.kr/p/snzAJp
Marauder Blueprint by Pascal. https://flic.kr/p/bpV8UA
Child Entrepreneur by Steven Depolo. https://flic.kr/p/a3Pdjy
Hello My Name is by Travis Wise. https://flic.kr/p/phvM1B
Exmoor: Stranded Tree by John Shortland. https://flic.kr/p/a2Z4Jk