This case series of a failed startup in the financial services market illustrates three of the key issues in launching a new business - the role of a strong and cohesive founding team, the problem of lack of credibility faced by new ventures, and the importance of developing elements of novelty or innovation in the proposed business model.
The case can be used to discuss effective processes for team-building and management, as well as ways to transform the business model to avoid early competition and carve a market niche for a new venture. The case lessons emphasize that it is the quality and cohesion of the venture team that allow the founders to learn from their initial mistakes, maintain their motivation, and adapt their business model.
- Founding team space
- Business model
- Securing initial clients
- Financial services
- Carving uncontested market
