Most common reason for failure of startups

Before sometime I read an article in Fortune.com as per that article nine out of ten startups get failed and not even survive in the market for a single year. It looks very shocking! But unfortunately it’s the brutal truth of stratus.

Because most of the startups started by seeing the shining face of business owners where they worked and think that "If they can why not I" but actually they are unable to stay in the competitive market for a few months and close their startup business abruptly. But if analyze their targeted audience and they take some steps timely then they can survive and grow within a year.

Demand and Supply law is still working
Yes! the fundamental law of the economics i.e demand and supply is evergreen law of market, so before launching your business, you must understand the demand in the market and how much supply already their and if you are going to supply what unique thing you have to deliver. As not properly analyzing the needs & demands of your targeted customers is a very big reason due to around 42% startups fail to succeed.

Do you having User-Friendly Website
The present era is the era of online or we can say digital era, people wants everything over the internet, problem, solution, suggestions, advice, products, services, education everything, so this starts from website, so if you not having a very good user friendly website than your customer can go back from the landing page.

So, the question could be come to your mind that what is a user friendly website? this is the website which must hold all the information that your target customers want, have pages like About Us that tells about your company and business,there should be products or services pages so that they can read in details what you are going to sell.

Do your Logo Memorable?
Wow! its amazing! what a question, I spend a lot of money to design the logo it has a lot of information. Absolutely you are right but is it memorable? actually no one has accurate answer of this question,as everyone loves their business logo and everyone neglect others business logo untl unless they are not associated with that business, but you business logo must represent your business means if you see your own logo you think that it is associated with my business, as this association help you to build a brand identity.

Is your business present over Social Media?
In present scenario social media is reached at every home by smart phone, every single user spend at-least 4-5 hours in a day over social media, and we do not know which person become our client in future, so make your strong presence over Facebook, Twitter, YouTube, Instagram and LinkedIn, if you have no enough time then hire an agency for social media activities that can do this work for you.

Do you Managing Company Cash Flow Effectively?
Hope this question made you little upset, as it directly questioning about your financial position, but this is very required for a better results, as per a survey 29% startups often struggle to keep their finances uptight, so try to keep operating costs low in the starting.

Do you have Right Team?
As per the study 23% startups fail due to not having the right team, as per an article published at Entrepreneur.com before some time it says that forming a right team is perhaps the first critical step to building a sustainable company.

Remember, only an effective team can quickly make adjustments with your any situation and quickly pivot to the ever-changing market conditions, so it makes sense to invest in a good team to steer your startup towards success.

Is there any Lack of Commitment?
I seen so many business owners do not maintain the initial level of high commitments with client, as they they start very well at initial level but lose their focus and determination to succeed due to different reasons.

Many business owners left their business with no enthusiasm if they face any obstacles in their, like if they do not get the customers’ response then they lose patience and interest with client and then shutter down.

In this situation you have to restore your commitment, maintain high level of energy and interest, and if required then take help of experienced people to enable yourself to understand the problem and solve it.

Do Having a Powerful Internet Marketing Strategy?
As per the survey, more than 70% people worldwide looking for services, products, education, training etc over the internet, I can say mainly over the search engine so your internet marketing strategy must be includes search engine marketing, email marketing, display marketing.

Means if your business website is not ranking high up in the search engine results when a potential customers type some business oriented keywords on Google, you will not get the customers.

So, your business website must come up at the top search results for different business oriented keywords. So, are you equipped with a sound internet marketing plan? No! then you can contact with a digital marketing agency for these all works.

The Conclusion - How To Ensure Success

• Make an effective business plan
• Estimated cost of your business running for next 4 to 5 months.
• Be prepared to work hard to realize your business goals as it require extra efforts.

As so many business startups fail and abruptly close because they do not plans so many things. They have very little information about target market and customers. They do not make marketing efforts to make a meaningful visual communication with their potential customers. Also, they do not take care of their financial aspects of business.