Startups are booming in today's era. Today every youth only talks about startups. Everyone is fed up with the job. Everyone wants to have a startup. If we see today, our youth is also bringing many new startup ideas in front of us. If we talk about the world, there is a lot of discussion about Indian startups outside the country as well. But if you see the reality, many startups in India are failing in their first 5 years. This is the biggest problem facing our startups.
There are many reasons for the failure of our startups, due to which the chances of their failure are increasing. We are going to discuss about those regions here.
Reasons Why Indian Startup's Failed
1. Lack Of Confidence
To do any work, the most important thing is the confidence inside us. How much confidence do we have to do that work. Half of our victory is decided by this. When we start any work with full confidence, it is often a failure.
This is what many startup founders lack. Lack of confidence makes us weak from inside.
2. Lack Of Funds
A startup needs funds to meet all its needs. When a startup has sufficient funds, it fulfills all the necessary infrastructure requirements for its startup. This shows the importance of funds. If we have enough funds then we will be able to grow our startup easily.
Sufficient funds are the most important thing for a startup.
3. Lack Of Focus
Like doing every work requires focus. When we do any work with full focus then that work is always successful. Similarly, when we work with full focus for our startup, it is often a failure.
Many founders lack focus. This is the reason why their startups mostly fail.
4. Not Focus On Right Customer
Started a startup. Raised enough funds for the same. Brought a good product too. Now it is the turn to deliver it to the customer. After all, it is the customer who brings us the revenue. But when we will not find our right customer only. If our right customer does not deliver his product then our right revenue will also not come.
That's why it is most important for our startup to take our product to the right customer. Otherwise our startup will fail by being distracted.
5. Leadership
Right leadership always takes right decisions. If we have the right leadership in our startup, then the decisions will also be good. Because only the right leadership can bring the right decisions. If we have to save our startup from failure, then there is a great need for the right leader ship for us.
6. Business Model
The right business model encourages us to work in the right direction without distractions. Before starting a startup, it is very important to have the right business model. Otherwise, there are often chances of failure in the future of startup.
This is happening with many startups even today. This is a major reason for the failure of startups.
Conclusion
These are some of the very important reasons for the failure of startups. If startups take care of these important things then their growth is essential. Funds, team and many other things are very important for the growth of our startup. This decides the future of the startup.
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