This Is The #1 Reason Startups Fail

This report by the Startup Genome Project builds on the argument that execution and not the quality of the idea is the most important determinant of a start-up's success. It argues that premature scaling is the biggest reason why so many start-ups fail.

If this is the case -- and I do agree -- my question is: At what point do you know you're done with the discovery, validation, efficiency parts of your growth/learning process?

Second question is: Given that so many start-ups self-destruct because they scale before they're done with these first three steps, what are the best ways to avoid this? Is it by creating an advisory board very early on? Is it by spending a lot of time conceptualizing your minimum viable product before launch -- or does it mean relaunching/rethinking your MVP several times? If you want to scale should you focus on monetization early on as opposed to thinking just about the product? (The report says sales-minded start-ups are 6.2x more likely to successfully scale.)