Mistakes that Kill StartUps #5: Stubbornness

By April 13, 2017Startup

Stubbornness can be explained the best through the ‘Kodak Case’. Kodak failed to accept digital photography as the new way of life. Stuck with their film-based business model, the Startup’s management failed to evolve to all that digital technology had to offer. Even with the growing fame, use, and extended technological boundaries, the company could not cope up with evolving it’s business model to accommodate the ‘new’.

Some firms are so rigid with their idea, that there is little to no space for improvement. Don’t get attached to your original idea. In the case of startups, that idea will be broken down and analyzed a number of times. You never know what the new change might bring.

It is important for your StartUp to be flexible with its business model. This does not mean changing the direction of your service/product every week. But if there is a change your users are excited about, adapting your model to incorporate that change is probably a good idea.

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