Here is Why Start-ups In Most Cases Fail

business management, accounting, time management
Designed by Freepik

You might thing your start-up has a genius core of action and work, but probably, it looks like a common small family-run business and it operates as a traditional college-boy first attempt to establish a company. Yes, it’s great that you were brave enough to start your own business and to make this start-up reality. But, no, don’t expect it to exist and grow by itself. For God sake, you need to do a lot to make it happen: to see your start-up successful and progressing. And before that, it might be good for you to find out why today’s start-ups fail:

  1. You are on the wrong place

The time is now, but your location is not properly considered in advance. If you are making homemade cookies in a vacation resort, don’t expect to be a millionaire soon. But if you relocate in a completely new industrial district filled with IT companies only you might be the winner. Think about how many specialists work there now and after being detached from their homeland. Your cookies are going to remind them of home. You got the idea, right?

  1. You have no control over your employees

Maybe, they are your friends and it would be funny to argue with them in the morning and to drink beer with them in the evenings. But you don’t have to scream or make any remarks at all. Simply, use time tracking with screenshots and organize briefings on a regular basis. Both approaches will make the environment in your start-up look more professional.

  1. You are still on your day job

Ok, it’s good to have your initiative covered with solid capital. However, it should be your savings, but not your entire time – especially the most productive time between 9 in the morning and 18 o’clock. Eventually, your start-up is going to be destroyed by your own burnout. And a good product for time tracking with screenshots is not going to help.

  1. Being everything else, but not open-minded

If you are not ready to change yourself or to change something in your primary idea, be sure that your project is going to fail soon. Even the most genius idea is eventually modified when being immersed into the global market. You need to accept your own business idea as your child. Every parent wants his kid to become a sausage head, who also practices sport. But when a smart parent sees his kid how talented in drawing it is, he’s going to pay his painting classes by all means.

Share on FacebookShare on Google+Tweet about this on TwitterShare on RedditPin on PinterestShare on StumbleUponDigg thisShare on LinkedIn

Leave a Reply