Why do most of the startups fail?

Reason why most of the startups fail?

These days startup is a buzz word. And everyone one is entering into entrepreneurship just to get a fat bank balance. People nowadays, are into get rich schemes. They enter into entrepreneurship/ start a startup just to earn. They are not focusing on learning before earning. And this is the major reason why most of the startups are failing.
There is saying : “Too many people are focused too much on money and not on their greatest wealth, which is their education. If people are prepared to be flexible, keep an open mind and learn, they will grow richer and richer through the changes. If they think money will solve the problems I am afraid those people will have a rough ride. Money without financial intelligence is money soon gone.”

Few Tips to a successful venture

1) Try to build a leadership in your team. 

2) Don't try to do everything by yourself. "Be a jack of all but a master of one skill". Entrepreneurs nowadays believe they can do everything by themselves, which turn out the venture to be a disaster.

3) Entrepreneurs should try to offer equity options to the employees in the starting phase of the venture. Because at this time the company is capital deficit. This will keep the employees motivated even though if salary is not paid on time.

4) During early stage of venture the key people of venture should try that the company is never cash deficit. Whenever money is infused in the business, a part of it should be saved. It will help the company sustain during recession.

5) Entrepreneurs should know what things are working for them. If things are not working they should move forward instead of sticking to the plan. Sometimes sticking to a plan is the cause of suffering.

Why do most of the startups fail? Why do most of the startups fail? Reviewed by Businesspedia on January 20, 2019 Rating: 5

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