Top 6 “Whys” Startup Businesses Failby oleksandr kryvotsiuk Marketer Startup death statistics are sad and not sunny at all - above 90% of startups face collapse. According to the Small Business Trends,
50% of small businesses fail during their first four years. BDS reports that every year near 400,000 new business projects are getting shut down. This is just as much as the number of citizens in New Orleans, Louisiana.
What are the greatest reasons which cause startup businesses deaths? To make your startup successful, you need take into consideration the sad stories of startups failure. You need to create your own better and successful startup way. It’s good that your have faith in your business project. But it’s not enough.
To be successful, you should draw conclusions from the errors of others. So let's look at the core areas where startup may face risks and get valuable lessons. Based on the 20 main reasons of startup failures given by CB Insights, let's home in on six the biggest reasons of startup failures, and of course, let's make some conclusions. Cause of Startup Failures No.
1 - No Market Need. The lack of market demand was one of the causes for the breakdown of 42% business startups surveyed. Your tech startup needs to solve some market problem. At the beginning of creating your business project you must check your idea and determine whether it is advisable to continue development, or it’s better cancel its creating and save the time and energy.
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Created on Jun 25th 2020 07:03. Viewed 544 times.
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