4 REASONS WHY STARTUPS FAIL — FOR ENTREPRENEURS
This is the 21st century where people are not earning just because of living but they earn because they want to live a billionaire life.
Everyone knows that private and government jobs never make you a billionaire only sports and startups make you a billionaire.
So if you want to become a cricketer and Actor to earn money then this is the very toughest thing at that time.
So people move towards startups. I am not saying that building a startup is easy than an actor but for Actor there is a need for a good background and you act on stage till small age.
Similarly, for cricketers, you have a good background and you join the academy from your early age like at the age of 12–13.
But it is not important for any entrepreneur that you hjoinedjoin an academy or your background is good or bad if you have a plan in your mind, a team of your friend who dedicate fully of your startup this made you billionaire you without any actor and cricketer.
It is also not important that you start startups at the age of 12–13 while some people start after left their jobs at the age of 30 and they earn billions of money at the age of 35.
This is the power of startups.
In my last article, I have also discussed how to start a startup, 5 strategies for startups.
Today we will learn why startups fail and after reading this may you never do these mistakes if you want to start a startup.
MARKET PROBLEM
A major reasons that why startups fail is market need. Sometimes the market does not need your idea and you launch them then this is the reasons that startup fail.
Remember one thing when the market does not need your product then change your product not market your product.
First, change and then start marketing of new product.
So before launching any startup find that people really want this or not because if you launch and people never want this then you got failure only.
CLARIFY TIME
In my last 2 articles, I have also discussed timing.
Timing plays 70% of the role in your startup.
So if you start your startup when the time is not for your product then you fail.
The question is how to clarify the best time?
Just think in this world when people move towards electric cars and you launch a car who is simple and they run on petrol than why people purchase them. This is timing to launch an electric car at less price.
So this is the timing of how much matter in your startups.
Believe me, these small things make your startups a billionaire. The big thing you already do to start a startup so works on these small things.
SINGLE WORKER
Many startups fail due to a single worker it is not mean that you have a single person on the team but only one people work on startups make them fail.
If you want to make a big startup then work with the team is very important firstly never start a startup alone always take some friend as a team member and also all member work a lot to make your startups awesome and successful.
1 year ago I came to my townhome and one person sitting alongside me and when my friends start talking about startup then they gave a huge interest and they told me about their own startup.
This guy is awesome really they had a plan they work a lot and his idea is a multimillionaire. But the problem I found that why this guy not succeeded is that they have no team they work with alone.
So never start a startup without any team.
FUNDING PROBLEM
Many startups fail because they have no enough funding that they want to grow their startup.
Firstly how much funding is important this is the question?
Funding is important if you want to start a startup but only 10%.
So if your idea is awesome and teamwork the effort of your team member is great then funding is just a little task to find.
Firstly remember funding is not important then all others things like timing, teamwork, idea so if you want to start something then funding arrived on your hand only some effort are needed. Many people close their startup due to funding but if your effort is good then funding is nothing in front of you.
So never close your startup due to funding. Funding is not a problem but it is a task that came and you do.
SUMMARY
Startups fail due to a storm that came into your life when you do a task that needs for your startup.
Remember task makes you stronger.
Originally published at https://www.psychologysarva.com on May 31, 2021.