Why Most of the Startups fails?
You may often have seen that almost all of Startups get closed in first year only, they need an honest idea yet nearly as good team but still get closed.
Here are the explanations that cause it :-
If you furthermore mght planned for starting your Venture or Company then make sure of those points.
1. INDUSTRY TYPE.
2. FAULTY BUSSINESS MODEL.
3. MARKETING MYOPIA.
4. FEEDBACK SYSTEM.
5. PASSION.
1. The primary thing is INDUSTRY TYPE, the regarding industry which we've chosen to figure, is true for us ?
 |
We should choose that style of Industry during which we've the nice "Knowledge, Experience, Low Competition, Better Opportunity".
Example for Better Understand :-
The cost of product that we are selling is for 4800 and also the same product was selling on Amazon is for 4100, it includes all its taxes, profits. How can this Possible ?
This happen because We are placing order for 100 products and that they may be placing an order for 50k products, thats Why they're ready to do Competitive prices.
They consider their logistic cost is loss for them now. Big E - Commerce Companies like Amazon, Flipkart, etc are growing because they're destroying their competition by price, service, products, customer service, etc. this can be the most reason of get closed of very bussinesses in first year.
2. FAULTY BUSSINESS MODEL :-
I think if i will be able to try this bussiness so i'd be profitable, but if I do overall calculation, i will be able to find myself during a loss.
Example - We opens a factory and products coating is coming 90rs and that we have made all the plans regarding the damage and every one, then We decided that we are going to sell this product at a margin of profit of 95 rupees and so we've done all the packaging and branding of that product.
Then we ought to know that the value of stuff frequently fluctuates.
In starting, the value of stuff was 60rs and now it's available for 110 rupees.
So during this case, Can We increase the value of product ?
Absolutely, No because we did all the branding and marketing of that product for the pricing of 95 rupees Or could also be at the timing of Calculation the full cost we made some errors, We didn't include rent and employees salary under it calculation.
So overall, we've to form our strong bussiness model, if we want's that our Start - up gets never failed.
3. MARKETING MYOPIA :-
Sometimes, We thinks that our product is that the most optimum product for the costumer.
For Example :- We decided to form Pager at this point. ( Pager - may be a medium of messaging, which was earlier time to speak ).
We are making Pager in Today's Era and telling everyone that Our Pager may be a touch screen, but the purchasers needs barely smartphone with a good camera, display, processing power, but No we've already decided to sell Pager, this can be How our bussiness will closed soon and begin - up get failed.
4. FEEDBACK SYSTEM :-
Our Feedback system for all most every business isn't such a lot good. In initial days every bussiness product goes through the developing stage. at once even they do not know what types of problems customer's are finding in thier products. we predict that Our product is best.
Example - I've got a protein bussiness, and my thinking is that the standard and taste of our protein is superior, the chocolate flavour of our protein power are good. this can be what We exactly think, but until we asked the purchasers about our product feedback and asked them how was our product ?
We have to ask our Customers about possible changes and other things.
Once we received feedbacks and work thereon therefore the Customers become loyal to us, maybe he couldn't buy my product before but I simply called him and develop my product in keeping with his feedback after then I said many thanks due to him I ready to make changes in my product, now their are high chances that he will buy yet one more time from me and if he like my product then he will recommend others, Ultimately Our customer base are increased.
So basically, we've to make atleast one feedback system, doesn't matter what reasonably bussiness we do.
By which we will directly get in with cusumers, and acquire to knows Where our products lack and the way can we modify it.
5. PASSION :-
Their should be a passion of doing work or here we will call it bussiness. we've a passion from inside.
People do not know about the industry and that they don't have any experience but still do bussiness, What happens then after when bussiness get in loss and so we feel demotivated, Ultimately Company got wasted.
Passion is all a couple of Work which we will do continuously for 8 to 10 hours without get paid, that's is that the real passion but many folks work because His freinds doing, neighbours doing, by this He / She also started and What happens, Everything get wasted. - The time, Money, Capital or many other things.
#Stay Safe #Stay Free
Regards,
Success Beater
For bussiness enquiries :- rp2643170@gmail.com
Posts
0 Comments