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TODAY'S ENTREPRENEURS TIPTOE THROUGH A MINEFIELD OF POTENTIAL PROBLEMS THAT OOULU
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Top 10 Reasons Startups Fail (Infographic)

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https://www.wrike.com/blog/top-10-reasons-startups-fail-infographic/ - With half of all new businesses in the U.S. failing in the first five years, the question to ask is WHY? Venture capital and angel investment database CB Insights recently studied 101 startup post-mortems to discover the most common reasons new businesses fail, straight from the founders themselves. And we compiled the top 10 fatal startup mistakes in our infographic.

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Top 10 Reasons Startups Fail (Infographic)

  1. 1. TODAY'S ENTREPRENEURS TIPTOE THROUGH A MINEFIELD OF POTENTIAL PROBLEMS THAT OOULU CRIPPLE THEIR BUSINESSES. How do you know the right move for your company? CB Insights recently analyzed lOl startup postmortems and identified the most common reasons for failure. Watch out tor these top l0 mistakes to avoid costly missteps. YOUR PRODUCT DOESN'T HAVE A MARKET. Identify a market need before creating a solution. Building a product and then looking for a target customer is a recipe for disaster — & zero revenue. Q 6 ». .~ ' Time & money aren't infinite resources. Use them E 5 efficiently & wisely. #3 0 x ‘C W P Hiring brilliant people won't get you anywhere it they can't work well together. Build a team with complimentary skills & perspectives. YOU'RE OUTMATCHED. - Don't obsess over competitors, but don't ignore ‘ ‘ K ’ / A them, either. Even if your product is superior, a 3 § flawed user experience & sluggish time to market can kill your startup. #5 - ‘2 at #6 Just because you think it's a great idea, doesn't mean customers will love it. Listen to what customers tell you they want. Assume nothing. Even with a great product people want, you need to be able to scale appropriately. Create a sound business model investors can trust 8: you can rely on as you grow. YOUR MARKETING EFFORTS FALL FLAT. - 5 A great product is meaningless it nobody knows about it. Know your customers‘ pain points & how to capture — and keep — their attention. #9 You need a clear vision to achieve your goals. But don't put on blinders 8: pursue that vision full steam ahead without asking tor customer feedback. Timing is everything. Debut too early, and you risk a poor first impression with a product that falls flat. Wait too long, and someone else may beat you to a hot market. BROUGHT TO YOU BY ‘I01 Siarlup Failure Posflnoriems: ; .H'_, .3,d_w, n,“vng : OHObO, .c. lcr. and mole? h"ps: .-‘Nw-. w.g: binsngnts. com; "blog, ."stor‘up—ta: lL. re—post—ri-orterr. -‘ management sottwcire "«‘. "n l<: e.com

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