Sunday 21st October 2018

    How to Avoid Startup Suicide: Indecision - Terry Lee


    Startups are more likely to die from suicide than homicide -Paul Graham
    The above quote is so powerful and so true - most companies die from self-inflicted wounds than from an external force (competition, economic downturn, etc.). To expand upon this further, I believe there are two main types of startup suicide: toxic founder relationships and indecision.
    In my post about toxic founder relationships, I shared how we cultivate a healthy relationship among the founding team at Panacea. In this post, I'd like to dive into the perils of indecision and how it leads to startup suicide.
    Indecision leads to decision-making by consensus (only making decisions when everyone agrees) and as a result, slow decision-making. This ethos is magnified at a startup because speed is a true competitive advantage that is vital for success.

    Continued here