Reasons Why Start-Ups Fail

1 Give up 

When it comes to business success stories,a common trend you’ll hear is that the founders never gave up.

2 Ideas Alone are Worthless 

Ideas themselves aren’t worth much, its the people behind the ideas that matter,and how committed they are to executing their vision.

3 Overbuild 

Too few start-ups focus on creating the minimum viable product,or MVP.Creating the MVP means developing a product that’s easy to understand. Don’t overbuild.

4 No plan for marketing 

Most startup founders focus so much on their product that they neglect to develop a strategy or create a budget for marketing the product.

5 No mentors 

While its often OK to throw out criticism you don’t find constructive,it can be even more damaging to neglect to take the advice of those who’ve come before you.

6 Cast a wide net 

If your target audience is too vast,your idea isn’t going to last.The best start ups locate their niche as well as a small target audience.

7 Wrong team 

Another reason start ups fail is because the founders bring in the wrong partners.Find partners who are on the same page as you.

8 Solving the Wrong Problem.

Many entrepreneurs often fail to see that the problem their idea aims to solve has a very small target audience.