11 Reasons why startups Fail ? [Video]

1. Not Having Enough Money
Let’s start with the simplest and most straightforward reason any business fails: lack of money.

2. Not Knowing Your Market
Who are your clients? Who is your competition? What is your target market willing to pay for your product or service?

3. Lack Of Vision
The mark of a good leader is not only having a vision but imparting that vision to others in a way that makes them want to come with you on the journey.

4. Biting Off More Than You Can Chew

5. Trying To Be Everything To Everybody
Many new businesses are quick to chase money or a sale by adding products or services that they do not truly specialize in. Companies that know what they do well (and what they don’t) and stick to that last longer than businesses that try to become a jack-of-all-trades yet master of none.

6. Not Enough Marketing
You can have the best product or service in the world, but if nobody knows about it, you won’t succeed. You need to get your name out there and let people know about the benefits of your business.

7. Poor Planning

8. Not Accepting Constructive Criticism
Let criticism serve as an opportunity to do it better. Too often, entrepreneurs get offended by critiques because they are too emotional when it comes to their business.

9. Not Delegating

10. Lack Of Soft Skills
Soft skills are the missing piece to the success puzzle for many entrepreneurs. Soft skills are the sometimes intangible and non-technical talents entrepreneurs need to lead effectively.

11. Burnout