The #1 truth behind any startup is that it is more likely to fail than to succeed. There are some lesser known reasons for why a startup usually fails most of the time. According to a survey, nine out of ten startups will fail. This is a less acceptable but the most important truth. Since most of the time, a startup fails, but there are times when a startup works great and turns out seeking a great place in the professional network.
The truth behind failing of any startup may be the idea of their business. Though the idea might be innovative according to the entrepreneur, it may not be workable for the business. These entrepreneurs need to have a reality check on the working process of their business. Many good startups fail just because of improper working ideas they conduct for their business.
On the other hand, a successful startup possesses a great pre-planning and innovative ideas suitable to their business. The entrepreneurs working in these startups are always having plan B if plan A doesn’t seem to be working in their favour.
According to a survey of failed startups, 42% of them have realised the lack of demand for their products in the market. As soon as you get the truth behind the decrease of your product sell, you come to know the reason for the failure of your startup.
A successful startup business works more on its productivity and services than raising the unnecessary funds. You can raise funds for your business after having a safer position in the sector. Investors will get back to you by themselves when you have a good position even after being new to the market. But ones you started getting a decline, your investors will automatically fade out, and you won’t be able to cope up with the products and services you once committed to providing to your clients.
Some startup fails because they run out of money. Investing your money in unnecessary things might get your business in a loss. While starting up a business the very first thing that comes to our mind is to have an impressive office which will bring more clients to you. It may sometimes be fruitful to you but most of the time spending more money on these things; you may run out of money required for your products and services.
A successful startup is the one where you concentrate more on your commitments of providing better products and services than investing in unnecessary things. Ones you achieve the best services that your business can offer to your clients then you may start investing in the things you once wanted to.
These are some truths behind the success and failure of the startups. If your startup lasts longer, you are on your way to success and creating a good impact on the network.
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