Paper: Hipsters, Hustlers and Hackers

Paper: Hipsters, Hustlers and Hackers

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Paper: Hipsters, Hustlers and Hackers

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Paper: Hipsters, Hustlers and Hackers

Interested in team performance in startups? Together with Scott Hutcheson, Purdue University and Sebastian Hamers, Human Insight we did some practice-led research into how startups teams succeed in growing their business and which teams struggle to get out of the gates. Scott and Sebastian wrote down their findings and would like to share with you what they found.

Preview:

“A hipster, a hustler, and a hacker walk into a business incubator.” No, this is not the start of a joke but an actual scenario that plays itself out every day, all over the world. Many individuals dream of becoming the next Elon Musk, Steve Jobs, Oprah Winfrey, Richard Branson, Bill Gates, Jeff Bezos or some other entrepreneur who has had a great impact on the world.

There is much to emulate. Each of these tycoons has built impressive organisations and their products, services, and solutions to the masses. Theirs might be household names, but standing behind them are teams of people powering their organisations and taking their vision to the next level. Would Apple have been successful without Mr Wozniak? Or Richard Branson without Nik Powell?

So what makes entrepreneurs succeed in their journey to the top? This is a question that a lot of people have been seeking to answer. Research done by CB Insights gathered data from 101 start-ups that failed and looked at the reasons why they failed. They found the following top three reasons are:

  1. Lack of money
  2. No product-market fit
  3. Not the right team members