In most cases, to achieve success, you need to overcome a lot of difficulties, live through multiple rises and falls until understanding, at a certain time, this success, that these rises, became recurring. Some of them, perhaps, will find luck, but the ratio of such luckies is miniscule. Instead of long and painful trainings in the real business world and projects, a lot of them find it much easier to believe in the hot deck and coffee grouts or rely on their friends’ advice and forecasts from experts and analysts. The main cause for this is a fast growth of the industry and the entrepreneurs’ desire to jump in this fast car supposedly racing towards success.įailures occur as many investors and entrepreneurs buy into beautiful ideas that are seen profitable and beneficial for them. The results received in the study show that the highest failure rate belongs to the IT industry, and it is not a surprise, in fact. In 2019, CB Insights conducted a post-portem study of over 100 startups to find out whether a startup’s industry plays any role in the failure. But is it a trend or is there something that is not visible but is very important for a startup’s well-being? And is your area of operation key to success or failure of your business? Actually, it is absolutely common nowadays, to see such a scenario. Everything looks good but then the situation changes upside down and your startup fails. Your initial efforts are noticed by some venture capitalists who prove their interest in your startup and its idea by investing their money in your company, sometimes big money. You set up a management team, hire some staff and hit the green button to make the gears work. And you decide to launch a startup to implement this idea for the benefit of the wide public and your own. So, you have accumulated certain experience, skills, and resources and you believe you have a unique business idea. In this article, we tried to figure out why it happens and what a startup can do to avoid this risk. Multiple researches and analyses conducted to date show that some 75-90% of startups created on the global market fail and make very sensitive losses for their founders. Not all startups become Uber or Glovo, regardless of the desire of their founders and investors.
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