Dysfunctional is different than failing so be careful of which one you are talking about. A failing startup will not be bringing in any or enough cash to meet the bills and is most likely bleeding customers and talent because some of the smart people who are paying attention will leave once the risk/reward equation gets out of whack.
- Morale will be low, all hands updates will either have unreasonable numbers or consistently missed numbers
- Employee turnover will accelerate, look for resumes on the printer
- Recruiting becomes hard because people can see you are struggling so more work for the people who stay
- Cost cutting will start focusing on flesh and bone programs rather than innovation and brand marketing
- Existing customers and sales prospects will have a much larger voice in product decisions and short-term motivations will win arguments
- People will most likely leave the office earlier than they had because they are disillusioned and don't see the point of putting in extra time
- Investors may replace leadership unexpectedly but rarely does the paratrooper CEO save the company. All hands meeting on a Friday at 3pm can be shocking.
I have been a part of one that failed because of a execution issues and a mis-read of who the competition was and been a part of one turn around project. Ben Parr had the emotions right but domino poker88 would add guilt if you are somebody who is thinking about leaving.
It's important to remember that 75% + of startups fail... when you are interviewing, look for success factors.. has the management led a successful startup before? If the management came from a lot of big/slow companies, beware. Does the management operate from gut instinct or do they fold in customer needs and opinions? Is the business model logical? How do they treat OPM (other people's money) - are they frugal or lavish? You can see a lot early on just by observing.
Failing startups have these characteristics: tension, projects being cancelled, people "disappearing" with little notice, more tension, office may move from location to location, management intolerance for any excuse or delay of any kind, rapid and dramatic changes of business model, generalized chaos, lack of new business coming in, lack of renewal business, etc.
It's been my experience that the front-line people generally know what it will take to make a company successful and that startups that are failing generally have a poor business model, too little idea of what customers need/want and not enough money to acquire an audience of potential customers. Stubborn executives are an early sign of trouble, successful startups may make several shifts in direction before finding the right formula... like baking a cake, look to see if you have all the ingredients necessary for success.
Don't be afraid to fail, be afraid to miss the opportunity to succeed.
I was one of them.
It’s easy to look around and assume that a company is failing when you’re the other side of the fence seeing all the negatives.
The CEO was an erratic, emotionless and eccentric leader and still is one but he did know that his business had something unique.
He led with an iron fist and he needed staff that would yield to his authority.
He found those staff in those moments of failure and also gambled a $200,000 loan when things started going down hill and he made it out the other side to tell the story.
We’re friends today and he has told me many times that he thought their were days when the business would fail.
He said getting rid of the people who aren’t the right staff is just one of the things that has to be done and admitted that he had to be an asshole to do it.
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