I have worked with more than 100 startups in the past years and have run five businesses myself. My experience – in order:
No. 1) Weak performance
Most failed startups have not been able to execute in time and a considerable lack of judgment. They worked very hard on product features, with very few in the market. He built many “good for the facilities.” They did not launch on time and did not work hard enough to create usage/customer base. Not adequately managed expenditure. Fail to identify opportunities, fail to create a strategic relationship.
No 2) no long-term vision
If you focus on your current product features, then it is difficult for a customer to believe that your young startup is the right business. It is challenging to convince investors, partners, top talent that you can express where you want to take the company.
As a result, you will not get enough traction and most likely will fail.
Number 3) Surface Market / Customer Research
Product-market reduction fit Most startups often develop products for themselves rather than a big market. They keep their customers close to their chest rather than joining test customers in a very long time – before they make their prototype. The result is often far from the market’s needs.
Number 4) Team’s weakness
No sense of urgency Not enough fit on the technology side, not enough fit on the marketing side, not fit barely on the financial side, not fit enough on the operating side.
No. 5) Lack of connection power
Startup teams all often reduce the importance of building their network of deep connections. Active users, influential industry groups, prominent analysts, influential media, relationship with influential business alliances …or they hope to find those investors and mentors who provide those connections. It’s not working just like that.
No. 6) Re money
There are many comments that money is a problem. In all cases and startups, I have noticed that the lack of funds has never brought down the startup. The lack of money is one of the tasks mentioned above – there is no problem in itself. More money is available than ever before – but the above vulnerabilities prevent startup from mobilizing funds.
