In today’s modern era, where growth is in abundance and ideas are being generated like wheat. Why do many startup businesses lose focus or deviate from their path and fail?
This is a question that bamboozles the owner of that business that despite doing everything it wasn't enough. But that's the thing, they did do everything. But did they do it right?
Often small startups think that they do everything in their power to keep the business up and running but they forget the fact that you have to do those things ‘Right’.
Lets see some of the common reasons why a startup fails-
1) Lack of Investment-
Whether it be investment of funds or investment of time, lack of investment might be a major factor for your Startup in India not being able to go the distance.
Wrong investment choices can also very well result in the demise of your startup in india. Not getting ROI from your investment would result in insufficient funds for the business to operate.
2) Competition-
You have to be careful in this cruel world of business as this world will not spare you if you fail to penetrate the market.
Already established companies make it harder for Startups in India to survive since they have a well captured market share beforehand.
Therefore if you are not offering anything that is niche or unique to the segment that it might become difficult for your business to breathe in the crowd of well established businesses.
3) Bad Designs-
This is the most common reason as to why a startup in India fails. In today’s digitalised world, a perfectly designed website is a must for businesses. Failing to do so is devastating for the business.
A well designed website attracts as well as entices them to refer to it or buy from it etc. This would increase your business and hence help you survive.
Badly designed website is a big no-no as it will shoo away any business that might come your way. Websites give the customers an image about what your company is all about, and having a bad design just ruins their perception about you.
4) Lack of Visibility-
This is also an important factor that the startups in India forget to look towards. The fact that your website is not being ranked highly in google search might also be a reason why startups in India fail to get user engagement.
Startups in India usually don't pay attention to website creation and ranking in the beginning and that becomes a big downside for them after some time.
It is important to pay due attention to SEO so that your website ranks higher in Google search rankings.
5) No Startup Business Planning-
This should be the first point in this blog, but nonetheless. Startup business planning is equally as important as the planning after you initiate marketing and sales activities.
Not having proper startup business planning can kill the business instantly as there would be nothing for you to show the prospective customers if you haven't already pre planned your pitch etc.
Startup business planning can provide a stable foundation for your startup to run.