Why Do Startups Fail and How to Avoid it
Top 3 reasons are what I call, "Tripple M": Market, Money, & Manpower.
Infographic: The 20 Most Common Reasons Startups Fail and How to Avoid Them
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Read more at cbinsights.com & entrepreneur.com
Why Most Startups Fail? (and How You Can Avoid It?)
Starting a business for the wrong reason
Poor management
Inadequate funds (lack a proper understanding of their cash flow)
Location is important (better close to where your customers are situated)
Inappropriate business planning
Overexpansion
No website or digital presence
One more important factor, you, the owner. (Do you have passion, hard work, determination and a positive outlook?)
Read more at
business.com
7 Reasons Startups Fail--and How to Avoid Them
Failure to find unsolved customer pain
Reluctance to get feedback on prototypes
No passion for the market
Lack of skills needed to win
Ignoring cash burn
Inability to raise capital
Weak team, poor leadership
Read more at
inc.com
Top Biggest Startup Mistakes and How to Avoid Them
Build a product that nobody wants -> Validate ideas with real users.
Spend too much time on MVP -> Fake it before you make it.
Didn’t spend enough time on culture since day one -> Care about your employees.
Focus too much on competition -> Focus on product / Market Fit
Didn’t learn from data -> Track analytics since the first version, …
Didn’t communicate -> Set goal and communicate, …
Focus on wrong things -> Don’t rely on vanity metrics, …
Read more at:
techstartups.com
4 Best Practices to Avoid Startup Failure
Maximize your resources
Leverage your network
Build a learning culture
Have an MVP (Minimum Viable Product)
Read more at
entrepreneur.com