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Why do startups fail Find out 7 reason?

This is a hard and bleak truth that 9 out of 10 startups fail. but have you ever wondered why startup fails so easily. Here are 7 common reasons that shows why most startups fail and how entrepreneurs handle those failures. Source : http://lessonsatstartup.com/2016/05/09/why-startups-fail/

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Why do startups fail Find out 7 reason?

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  1. WHY?? www.lessonsatstartup.com

  2. http://lessonsatstartup.com

  3. 1. 1. NO NO MARKET MARKET NEED NEED IDENTITY IDENTITY A A M MA AR RK KE ET NEED NEED B BE EC CA AU US SE E T

  4. MARKET RESEARCH Follow the simple rule of Market Research: 1.Who your customers are? 2.What they want or need? 3.how much they will pay for it? Without Customers, youhave NOBUSINESS

  5. 2. RUN OUTOF CASH The most important word in the world of money is cash flow. I haveno www.lessonsatstartup.com

  6. How to Maintain healthy CashFlow 1.Always have a financial Plan. 2. Keep a close tab on your expenses. 3.Always think twice before spending on your wants. Remember, wants can wait. Needscannot. If you buy things you don't need, you will soon sell things you need. - Warren Buffett

  7. 3. NOT THE RIGHT TEAM “If you think that through,” STARTUPSFAIL

  8. Get the right team withthe right skills. The right people are the most important asset of startups. Back the right team raise the bar. “Having the right team determines the path and outcome of a new venture more than any decision in the lifecycle of acompany,”

  9. 4. Get Outcompeted www.lessonsatstartup.com

  10. How to stay ahead ofyour competitors. 1.Know the competitors - Find your competitors and their offerings. 2.Know your customers. Find the demand of your customers - is it lower price, more flexible service, the latest products? Revise your sales and marketing strategy accordingly. 3.Look after your existing customers.

  11. 5. PRICING / COSTSTRATEGY We are competing in a very Price sensitive market, Price your product too high and you are in the process of losing the bulk of your customers. Under price, your products and you will be competing in a very low-end Market.

  12. What is a "Bad Pricing Strategy"? 1.Poor ValuePreposition 2.Setting too low prices to penetrate the market. 3.Setting high price, thereby risking affordability.

  13. www.lessonsatstartup.com 6. POORPRODUCT Building the wrong product is expensive and disastrous for Startups

  14. Tips for developinga Good Product 1.Build the right product before you think of building the product right. 2.Understand your product's value proposition from the outset 3.Ask the customer if he or she would use your product not just if he or she could useit.

  15. 7. Need/lack Business Model A business model describes how your company creates & delivers.

  16. Tips to build a good Business Model 1.Confirm that your product or service solves theproblem. 2.Talk to industry experts and investors. 3.Plan and execute a pilot or local rollout.

  17. “FAILURES “FAILURES MORE MORE THAN YOUR YOURLEARNING LEARNING CURVE” CONTRIBUTE CONTRIBUTE SUCCESS TO CURVE” THAN SUCCESS TO You can read more on why startups fail? at our Blog T O P 10 R E A S O N S W H Y M O S T N E W B U S I N E S S E S A N D S T A R T U P S FA I L ?

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