Why do startups die?

Failure #1: “I had the Next Big Thing”
An idea has no value as such.

Failure #2: “we were considered the leader”
Never overestimate the competition.

Failure #3: “We thought, ‘We’ll attack this problem a few years before Microsoft and Oracle notice it and recognize it as a problem.'”
Never underestimate big companies resources.

Failure #4: “We would’ve spent another three months head down developing it, without a business model or any way to keep paying the rent…”
Developing without any conversion idea is worthless. No money, no future.

Failure #5: “The business decision to focus on technology and avoid building a consumer application had a significant impact [on the eventual failure].”
Technology has no bank account.

Failure #6: “My billion dollar idea was described as “tired” and “annoying'”
Long lasting fun is the best way to sell.

Failure #7: “Issues with money, traction, team, and vision”

Failure #9: They gave away a service for free, and ran out of cash to pay the bills

Read more: http://www.businessinsider.com/33-startups-that-died-reveal-why-they-failed-2013-6?op=1#ixzz2aKvLdmQd

Published by ma

International Digital Expert

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