56/133 — Michael Ochmann
STaRTUPpunk learning from mistakes
Idea — In my project StartupPunk – Learning from Mistakes I intend to examine the crucial differences between successful and failed start-up companies and point out potential information gaps. The aim is to make prospective start-ups aware of potential bumps in the road and offer them approaches to avoid them. Context — In contrast with the numerous professional publications allegedly describing the “ideal way” to start one’s own business, I focus my analysis on processes of failed startup companies and on the conclusions which can be drawn from their specific mistakes and the knowledge gaps they identified too late. Through not relying on standard textbook wisdom, new start-ups can draw the relevant conclusions applying to their own particular cases. Content — Given the objective of producing meaningful and highquality project work, the challenge was to find a way to get access to concrete data and facts, which required direct contact with the start-ups. In order to get this sensitive information which should yield application-oriented results, I interviewed start-up companies from various lines of business. These interviews served as the main basis for my analysis of start-up failures.
Product — The insights gained from of the analysis shall serve as a first basis for learning. To be able to identify more than just the decisive “mistakes”, it was necessary to scrutinize possible reasons for these mistakes – and, accordingly, approaches to avoiding them. In this context, I analyzed and compiled the relevant core topics covered in scientific publications. The focus of this analysis was to determine whether all aspects of entrepreneurship-relevant knowledge had already been discussed or if there were information gaps possibly corresponding to the reasons for the failure of the respective start-up company I examined. Ultimately, the aim was to raise the awareness for previously neglected relevant topics and aspects of entrepreneurship.
Upstream — The product of my work should be understood as a guide accompanying start-up companies. It serves as a map that can be oriented individually and points the way in the jungle of self-employment.
Coach Sabine Fischer Team & Credits I would like to thank my coach and my teachers, and all start-ups participating in my project!
Contact michael.ochmann@hyperwerk.ch startup-punk.com