The Startup Compass’ (www.startupcompass.co) research demonstrates two key findings for early-stage businesses:
1. Premature scaling is the fastest path to failure; and
2. CEO’s with mentors to provide benchmarks are 7 times more likely to be successful than those who lack such critical reference points.
While these findings are not necessarily a surprise and unfortunately there was little data provided to corroborate the significance of these findings it is worth a quick reflection.
If you are an early-stage business in the software industry (yes they have limited their focus to software businesses at this time) then it is worth having a look at their benchmarks.