The Good, The Bad and The Ugly

Dr. Andrew Mawell

Difficult to predict success, easier to identify causes of failure

Understanding the difference between success and failure is a Wicked problem

Combination of factors required for success, failure can be due to one fatal flaw

Top Ten factors likely to cause a business to Fail

1. Not clear what the product does

2. Not clear what problem it solves

3. No evidence of demand

4. Fall in love with idea

5. Limited experience/capability

6. No barrier to entry

7. No competitive analysis

Importance

Competitor One

Competitor Two

Competitor Three

Competitor Four

Competitor Five

Non-Consumption

Your product

Feature One 1 + ++ * - -- + ++

Feature Two 3 - - ++ + - + ++

Feature Three 4 + -- ++ - * -- +

Feature Four 2 - ++ - * + * -

Feature Five 6 ++ - ++ - - * ++

Feature Six 5 -- + - - * * -

Overall ranking

8. No evidence of adoption

9. Incomplete team

10. Not clear how you will make money

Free Advice

- Experiment and use results- Share and seek feedback

- Network and partner- Focus on adoption

- Build team