Strange India All Strange Things About India and worldStrange India All Strange Things About India and world


Note that the main reason behind the failure of startups is not the scarce questions that are asked by society like why you are doing this?

 

It’s about the problem and your different attitudes towards the issue.

 

The reason behind the failures of startups are:

 

1. Advice carrying is a good idea. But taking too much information from others and planning their principal based on their research can harm your market.

 

Even the advisor generally the family members in the early stages don’t have a clue what you are building.

 

2. Sometimes, the whole idea of your project get neglected because of the implementation of a new plan is copied by some large industries.

 

3. Cash flows should be steady and remain distant from the free prototype. Nothing comes free to you, then why should you give your service for free.

 

4. Quality, Brand, Ambiance, whatnot, every good matter to attract people, which everybody knows, but price decides to convert people into customers. So, do a lot of homework on the pricing. Be smart to name your product if your price is high.

 

5. Managing a job and startup is hard work to be done. So it’s good to have a person who’s the whole time into it and who shares a shared vision with you. There has to be someone always there in your absence, a trustworthy person.

 

6. Affording marketing person is significant for production. Marketing is the key to an unestablished product. Who is your target audience? In which channel are they most engaged? How is your competitor’s marketing? What are they doing wrong?  Analyze, strategize, implement, reiterate.

 

7. The prime interest is not to make money but to create an impact. I stuck to it and maybe, this fueled failure. It’s a personal call, though.

 

But never forgot the vision.

 

8. Premature scaling is putting the cart before the proverbial horse. The more a company grows, the further away from profitability it becomes.

 

This one is trivial because it looked like you are doing everything right. You are scaling; you are hiring, you are funded, you are growing.

 

However, they are out of order, and their impact is enormous.

 

9. Lack of focus is straightforward. If you find yourself doing one of these things without knowing they are young to move the needle, STOP!

 

Essentially, the only two things you need to focus on when you are in the startup phase is :

 

1. Users

 

2. Product

 

The only way to stack on track as a startup is to develop the product and talk to users. You just don’t have time to get caught up in other things.

 

10. Insufficient financial resources

 

Another important reason for the failure of startups is the lack of capital resources. In the growth phase, follow up financing is often lacking. The CB insight study puts the probabilities of a product that declined due to liquidity problems at just under one third.

 

At last, I only want to convey the mistakes that were made by our youth when we try to start a startup without proper knowledge.

We, as youngsters, can change the future of any country.

 

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