Time is changing for startups. Things seem to be getting easier with the startups. Several support practices, like – funding groups, incubator, accelerator, etc. are available for the startups to fine-tune their journey towards success. Even with all those comforts, the numbers do not claim that startups are making merry. Reports by Statistic Brain claim that almost 8 out every 10 startups fail within first 18 months of its launch, while 1 more fail later on. That makes the overall failure rate to 90%.
So, what do they have in common that other 10% manage to stay away from? Why do most startups fail?
Vulnerable startup ideas and disoriented team goals are some of the fundamental reasons that cause startup failure. But the list does not end here. Deeper analysis shows that there are several other causes that can weaken the potential of your business. In this infographic, we list the top 6 reasons concerned with funding, partnership, planning, etc. that can be the reason of startup downfalls.
The competition in the business arena is soaring high and things change rapidly with the business. Once the startup begins declining entrepreneurs are left with very limited chances of saving it. You must keep the immunity guard on with the startup all the time right from the beginning. So, ensure that you are able to develop a business strategy to counter the reasons mentioned in the infographic and lead your startup to better results and achievements.
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