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A Must Read For Every Entrepreneur And Start-Up Investor
Thanks to Fred Wilson (A VC) for calling attention to a blog post written by Roger Ehrenberg detailing the reasons behind the failure of Monitor 110. I couldn’t agree more with Fred’s assessment that this is an absolute must read for every entrepeneur and start-up investor. There are tremendous lessons in the story about virtually every major aspect of building a start-up including management, strategy, board/management relations, use of cash, PR, and creating shareholder value.
For me, however, the most important lessons in the story relate to software/product development and the difficulty of bringing a unique, highly functional software product to market. Through the retelling of the Monitor 110 story, Roger perfectly articulates the enormous challenge in striking a balance between the competing pressures of ‘business’ and software development. These are wildly powerful forces within early stage companies, capable of derailing even the smartest, most experienced entrepreneurs and private equity investors.
Trust me – read the post.