Why most startups fail and here’s how not to

It’s easy to think of the latest like a middle startup pimple in of your the forehead: you wake up one morning and it’s all you can see And then, one day, for no specific reason it’s gone Really “Anyone know what happened to Whatchamacallit?” After some enquiry, all you’ve got is a handful of rumours and a bucket of spin All we know for sure is that it’s over Truth is, most of the time, it failed because of the same reasons so many other startups fail There will always be special individuals who find exceptional ways to kill their business you’re suddenly burning money faster than a new MP planning gala dinners Get into the market with the basic product and start generating revenue When the conversion metrics show you’re getting it right then you can grow the spend There are more reasons why startup businesses fail But these are the most important and common Of course the easiest way not to fail is to not start Fortunately you’re not scared and now you’re just a little a little more likely to make it @Abhishekshah [...]...majority of startups fail in far more mundane ways #1 Not understanding the user Your plans are based on what you think the user wants maybe you even have a few buddies who thought it was cool and how they like doing things Be careful about telling them how they should act Be careful about telling them how they should act this usually backfires #2 Too in love with the tech You love... it to the core and market -test before you go wild on features Getting this wrong has massive knockon effects #3 Launching too slowly If you’re building that elephant, you’ll keep holding back on the launch until everything is perfect Always Remember It will never be fully ready or tested and your competition will hit the market with a good basic solution Hence keep it lean get to market fast and ... many other startups fail There will always be special individuals who find exceptional ways to kill their business majority of startups fail in far more mundane ways #1 Not understanding the... percent of the market is not a strategy Who will be your first customers? How you reach them? What does it require to close the deal? How many sales people you need to this? What will the sales... thought it was cool and how they like doing things Be careful about telling them how they should act Be careful about telling them how they should act this usually backfires #2 Too in love with