I’ve pulled back on the use of infographics lately, but I spotted one over the weekend that warranted a second look. It visualizes data from the Startup Genome, a project that takes a scientific approach to cracking the “innovation code.”
Teaming up with educators from Berkeley and Stanford, they looked at more than 3000 companies, analyzing the customer, product, team, business model and financials.
One of the big findings amongst the data was that almost 7 out of 10 companies failed due to premature scaling or inconsistency. Peeling back the data, the lessons seem really simple: don’t act like a big company. In a recent post, the project team described what they deem the ‘inconsistency’ element.
“One driving factor for inconsistency is too much capital, teams that are too large, bad team compositions, too little testing, etc. – pretty much everything a large company does, anticipating high certainty in their planning.”
And If you’re wondering how your team stacks up, take a look at their benchmarking tool, the Compass.