9 Things That Kill Your Startup in Year 1

The first year is often the most perilous for startups. From poor unit economics and co-founder challenges to struggles with product-market fit and resource management, countless hurdles can derail even the most promising ventures.

In this episode of P&L, Neil Cheong and Alvin Chin, Co-Founders of GUIDE, dive into the top 9 reasons startups fail in their first year. They share actionable insights to help entrepreneurs identify red flags, align co-founders, and optimise their resources.

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In meantime, here are some key highlights from the conversation:

- Unit Economics: Why understanding and optimizing your business model is vital for survival.

- Co-Founder Dynamics: How to navigate relationship challenges and build a strong founding team.

- Product-Market Fit: Identifying alignment between your offering and customer needs.

- People Management: The importance of hiring effectively and navigating the difficult process of letting go of underperforming team members.

- Resource Allocation: Avoiding inefficiency in cash and time management.

- Go-to-Market Strategy: Common mistakes in execution and how to refine your approach.

- Clarity on Problem and Customer: Why a clear value proposition and knowing your ideal customer are critical.

- Lack of Personal Runway: Preparing financially to endure startup challenges without burning out.

- Speed and Decisiveness: Building a culture of quick and effective decision-making to maintain momentum.