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But often times those mistakes end up being costly and start-ups and organizations have paid heavy price all throughout history. Learning from mistakes and avoiding them the second time sounds wise.
But what if an entrepreneur can identify the tell-tale signs of the end-game earlier? Is it possible to resurrect a dying or a dead Life Sciences start-up? What'd it take to make a big comeback on the scene to slay newer and bigger dragons? BioSpectrum's Raj Gunashekar finds out.
An unstable team is perceived as the first sign of a dying start-up which displays a teams' disbelief in their venture.
"Lack of skilled personnel in the core technology is another indication that a venture is in trouble. Apart from the aforesaid point, lack of market space for the developed product is a clear sign of a dying start-up," comments Dr Kavitha Sairam, Director, FIB-SOL Life Technologies.
Pushing on outdated scientific concepts, working on old technology platforms, and difficulty in attracting funding or top talents are the symptoms of a dying start-up, says Mr Sam Santhosh, Chairman, MedGenome.