9 Primary Reasons Why Majority Startups Fail?

• Most people hate failure. Correct me if I am wrong. Unbelievably, even you are one of them. However, we are not.

• We have had many successes and failures coming our way. Nevertheless, we did not just run away from our failures.

• we have concluded these 9 major factors where every single startup falter:

1. Many think in a wrong direction

• In most cases, entrepreneurs get their focus so much engrossed in their own vision that they actually lose the broader way of seeing things.

• The best way to involve a third person mindset is to involve a professional company like us who can help you out tackling with all minor as well as major problems through our years of experience.

2. The concept does not focus on major issues

• Nearly for every single problem, there is a solution

• With more and more solutions coming into play, the technological world has took a giant leap.

• This has resulted in need for bigger solutions rather than focusing on day-to-day minor problems.

3. No money to spend out of pocket

• Bootstrapping is a process that requires many cash to be invested.

• If the companies falter here, may be due to poor burnout rate, delay in funding, improper planning, or wrong allocation of budget, they have no cash to spend for upcoming stages, because their budget has already been used up.

4. Ideas invented not leading to complete products

• It is always wonderful to see new ideas coming up but what’s the use if customers can’t get a physical feel or if they are not able to utilize the idea

• Implement it further into products that can prove to be useful for end-users in terms of usability or entertainment.

5. A strategy full of loopholes with major gaps to be filled

• Sometimes a startup can take all big things into consideration but neglect small things to fulfill.

• Almost all major hurdles are forecasted in advance.

• These small hurdles can such as infrastructure routine expenses, resources availability, selecting the most affordable option, and so on.

6. Lack of a professional team

• Everything falls flat if a highly qualified team is not in place, with team members not working in cohesion with each other.

• It takes a lot of co-operation, commitment, dedication, knowledge expertise, to put things together for a common purpose.

7. Neglecting the capacities of existing competitors

• Underestimating the existing competition could be fatal.

• You might enter an industry thinking it has far less competitors or may be the competitors are not that much capable enough to give a fight

8. Can’t handle the uncertainties arising in the market

• Startups are not aware of the movement of the trends and so they fail in the trap of moving in a right direction.

• Only a professional company can handle things in a completely different manner that makes situations sailable.

9. Bad advice is the one ruining up everything

• Following the wrong advice from wrong people can destroy all your aspirations in just one shot.

• You might be surprised to know that Internet is filled with loads of bad advices from unqualified sources.

• Only someone like us having years of industry presence could identify what could be best for you and what is not.

Any solution?

• Being a startup, you might have started thinking after reading all this. Are there any solutions to avoid these 9 pitfalls in startup? Well yes it is. Just go through our article on “how startups can be successful?” to get answers to all your questions.