Why Most New Business And Startups Fail ?

Views:
 
     
 

Presentation Description

Do you know '9 out of 10' startups fail in their early phase of entrepreneur ship? There are many challenges we have faced through during entrepreneurship. While facing numerous problems during startups i learned and find that entrepreneurs are well versed with identifying and taking steps to minimize risk in beginning time. Here, 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/

Comments

Presentation Transcript

WHY??:

W H Y ?? www.lessonsatstartup.com

Slide 2:

www.lessonsatstartup.com

1. NO MARKET NEED:

I D E N T I T Y A M A R K E T NEED B E C A U S E 1. NO MARKET NEED

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, you have NO BUSINESS MARKET RESEARCH

2. RUN OUT OF CASH:

2. RUN OUT OF CASH I have no The most i m p o r t a n t word in the world of money is cash flow. www.lessonsatstartup.com

How to Maintain healthy Cash Flow:

How to Maintain healthy Cash Flow Always have a financial Plan. Keep a close tab on your expenses. Always think twice before spending on your wants. Remember, wants can wait. Needs cannot. If you buy things you don't need, you will soon sell things you need. - Warren Buffett

3. NOT THE RIGHT TEAM:

3. NOT THE RIGHT TEAM “If you think that through,” STARTUPS FAIL

Get the right team with the right skills.:

Get the right team with the 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 a company, ”

4. Get Outcompeted:

4. Get Outcompeted www.lessonsatstartup.com

How to stay ahead of your competitors.:

How to stay ahead of your competitors. Know the competitors - Find your competitors and their offerings. 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. Look after your existing customers.

5. PRICING / COST STRATEGY:

5. PRICING / COST STRATEGY 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.

Slide 12:

What is a " Bad Pricing Strategy " ? Poor Value Preposition Setting too low prices to penetrate the market. Setting high price, thereby risking affordability.

6. POOR PRODUCT:

6. POOR PRODUCT Building the wrong product is expensive and disastrous for Startups www.lessonsatstartup.com

Tips for developing a Good Product:

Build the right product before you think of building the product right. Understand your product ' s value proposition from the outset Ask the customer if he or she would use your product not just if he or she could use it. Tips for developing a Good Product

7. Need/lack Business Model:

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

Tips to build a good Business Model:

Tips to build a good Business Model Confirm that your product or service solves the problem. Talk to industry experts and investors. Plan and execute a pilot or local rollout.

“FAILURES CONTRIBUTE MORE THAN SUCCESS TO YOUR LEARNING CURVE”:

“FAILURES CONTRIBUTE MORE THAN SUCCESS TO YOUR LEARNING CURVE” You can read more on why startups fail ? at our Blog TOP 10 REASONS WHY MOST NEW BUSINESSES AND STARTUPS FAIL ?