Why Most Startups FAIL?!

Posted by | · · · · · · · · · | Entrepreneurship | No Comments on Why Most Startups FAIL?!

You’ve decided you want to head out into the startup world and begin nurturing your own business.

In this video I outline 3 most common reasons for why 9 in 10 startups fail within the first 12 months!

 

1) Having an unclear purpose. If you leap into starting your entrepreneurial journey without a clear purpose you are pure and simply going to struggle! You need to identify a shortcoming or opportunity in the market and then decipher how you will eliminate it!

 

2) Poor cash flow! This is an absolute business-destroyer. If you are unable to manage your cash flow affectively, particularly in the first 12-24 months when revenue will be tight, you will be unable to cover your basic overheads and will soon be closed doors :-(. So avoid this by planning from the outset how you will cover your first 12-24 months of overheads.

 

3) Last but not least, too many young or new entrepreneurs underestimate the sheer volume of work neccessary to build a startup from scratch. We are sold the dream of “4 hour work weeks” and “free time to do what we went”. In reality a startup can absolutely consume the vast majority of your time! Be ready to put in this time if you want to build something of substance!

Don't forget to share!
Share!

No Comments

Leave a comment