Philippe Kiethun Chrun of MyCarpoolStation.com exhaustively describes why his business is failing in Deconstructing a Struggling Start-Up. Regardless whether or not they they hired the wrong people, or positioned themselves incorrectly, their biggest problem is easy to see:
We invested $30,000 of our own capital, excluding an estimated $50,000 of sweat equity. With that, we built a working prototype but did not manage to get a customer-ready product out the door. No customers equals no revenues, and since we have not yet secured additional funding, we are officially stuck.
They’ve had no sales! They didn’t follow the rules and instead spent more than a year working on something without ever once stopping and checking to see whether or not anyone would actually give them any money for their product.
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