08 Feb Why Startups Fail (Infographic)
Building a startup is often a steep learning curve. Unless you’ve launched a company before, it can be difficult to deal with curve balls and even then (and I can tell you this from personal experience) you won’t have all the answers, all the ti
So why do so many startups fail? Well, there are a number of reasons. Immediate success seems like a great thing, but scaling prematurely can actually be a weakness for a company if they don’t have adequate plans in place as they struggle to adjust and fulfil their commitments. You can’t be brilliant one day and rubbish the next. If you are, no matter what the reasons, you will be considered ‘inconsistent’. Inconsistent companies will struggle to get funding and will find it much harder to plan and manage their cash-flow as consistent companies.
Success is great, but running before you can walk isn’t. Now that doesn’t mean you shouldn’t be ambitious, you should … but make sure you’re prepared too. If you look at the info graphic below, I’m sure you’ll find a challenge that resonates with you … it will usually be the thing that makes you shift in your chair! So now you know some of the reasons startups fail, lets make sure you’re one of the ones that succeed!