Where things go wrong in startup?
Research reveals that around 90%+ startup fails. While there is no sure shot formula for guaranteed success, but there are various reasons behind those failures.
Why startups fail?
There is no one reason for failures. There could be various reasons and / or combination of factors that derails the startup. Following are the few prominent reasons for failures in startup.
Product / Service not required
The promoters often 'assume' the demand to be there but in reality it doesn't exist or it is so weak that it doesn't trigger enough trials.
Financial Stress
We often overestimate the sales and under estimate the costs while the reality is often just the opposite. Also, the promoters block their investments in building factory, creating office, fancy gadgets and software. Eventually, there is hsrdly any money left for the brand creation.
Poor execution.
Sometimes the idea is very good but the execution is not up to the mark resulting in failures.
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