{"id":2976,"date":"2019-05-21T09:00:37","date_gmt":"2019-05-21T09:00:37","guid":{"rendered":"https:\/\/dereklidow.com\/?p=2976"},"modified":"2019-05-15T17:18:10","modified_gmt":"2019-05-15T17:18:10","slug":"for-even-hot-startups-premature-marketing-can-mean-premature-death","status":"publish","type":"post","link":"https:\/\/dereklidow.com\/for-even-hot-startups-premature-marketing-can-mean-premature-death\/","title":{"rendered":"For Even Hot Startups Premature Marketing Can Mean Premature Death"},"content":{"rendered":"<p class=\"speakable-paragraph\">When the meal-delivery service Munchery filed for bankruptcy in February of this year, it\u00a0<a href=\"https:\/\/techcrunch.com\/2019\/03\/04\/failed-meal-kit-service-munchery-owes-6m-to-gift-card-holders-vendors\/\" target=\"_blank\" rel=\"nofollow noopener\" data-ga-track=\"ExternalLink:https:\/\/techcrunch.com\/2019\/03\/04\/failed-meal-kit-service-munchery-owes-6m-to-gift-card-holders-vendors\/\">owed<\/a>\u00a0$3 million in unfulfilled customer gift cards. In essence, the company\u2019s marketing had outlived the company itself. And therein lies a critical lesson for entrepreneurs: aggressively marketing a product or service before you know if customers truly value it can be a kiss of death.<\/p>\n<p>An\u00a0<a href=\"https:\/\/www.cbinsights.com\/research\/startup-failure-reasons-top\/\" target=\"_blank\" rel=\"nofollow noopener\" data-ga-track=\"ExternalLink:https:\/\/www.cbinsights.com\/research\/startup-failure-reasons-top\/\">analysis<\/a>\u00a0of more than 100 defunct startups by market intelligence company CB Insights identified the top 20 reasons fledgling companies fail.\u00a0<em>Number one<\/em>: \u201cno market need.\u201d\u00a0<em>Number two<\/em>: \u201crun out of cash. Marketing in the face of number one usually leads to number two&#8230;<\/p>\n\n\n<p><a href=\"https:\/\/www.forbes.com\/sites\/dereklidow\/2019\/03\/27\/the-most-important-book-on-entrepreneurship-you-probably-havent-read\/#7a07f2121dc2\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"When the meal-delivery service Munchery filed for bankruptcy in February of this year, it\u00a0owed\u00a0$3 million in unfulfilled customer gift cards. In essence, the company\u2019s marketing had outlived the company itself. And therein lies a critical lesson for entrepreneurs: aggressively marketing a product or service before you know if customers truly value it can be a&hellip;","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"link","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/dereklidow.com\/wp-json\/wp\/v2\/posts\/2976"}],"collection":[{"href":"https:\/\/dereklidow.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dereklidow.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dereklidow.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/dereklidow.com\/wp-json\/wp\/v2\/comments?post=2976"}],"version-history":[{"count":0,"href":"https:\/\/dereklidow.com\/wp-json\/wp\/v2\/posts\/2976\/revisions"}],"wp:attachment":[{"href":"https:\/\/dereklidow.com\/wp-json\/wp\/v2\/media?parent=2976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dereklidow.com\/wp-json\/wp\/v2\/categories?post=2976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dereklidow.com\/wp-json\/wp\/v2\/tags?post=2976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}