Banking isn’t the one ‘single level of failure’ entrepreneurs ought to be rethinking

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Silicon Valley Financial institution is an efficient reminder that startups, usually entrenched on this planet of danger and scrappiness, generally neglect to consider the plain: single factors of failure. However identical to it is sensible to depend on a community-friendly financial institution, so does entrusting a single particular person to guide your online business to success. Now that we’ve seen the previous probably not work out, maybe it’s time to rethink the latter.

TechCrunch+ polled a variety of early-stage founders who’re constructing firms which have raised a Sequence A or much less, to grasp how they give thought to succession. The consensus is that it’s not prime of thoughts, and even prime of the checklist, in a world the place founders are extra targeted on runway, product-market match and development.

Can that be modified?

Transferring an organization’s success past the person founder or chief govt tasked with being the face of it’s exhausting. I imply, there’s a cause that VCs love co-founders: Eighty % of billion-dollar firms launched since 2005 have had two or extra founders, one study shows. On the identical time, co-founder breakups are one of the vital frequent causes startups fail. Contradictions! We love them.

Banking isn’t the only ‘single point of failure’ entrepreneurs should be rethinking by Natasha Mascarenhas initially printed on TechCrunch

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