Some of the common reasons why startups die an early death in India
Several startups mushrooming across the country every day, but the success rate of these ventures are negligible. As per experts, India, which is the fastest growing economy in the world, will be the next startup capital.
So, let's have a look at the failures of startups in the country.
Conflict between co-founders
One of the most common causes behind the failure of a startup is the partners not remaining on the same page. It is not necessary that they have to agree on everything, but major differences between the founders are often the main factor behind the failure of a venture.
Not hiring the right resources
Hiring the right people to build up a team is the key mantra behind a successful startup. According to experts, it is a big challenge for a growing startup to hire the right team that would be in sync with the company's needs.
A team must comprise all types of people, from experienced players to young talents.
Failing to find a product-market fit
In many-a-cases, it is seen that entrepreneurs fail to differentiate between innovative product and marketable product. So, it is very important to understand that needs of the market and one must have a detailed understanding of the industry before launching the product into the market.
Not raising fund at the right time
With the number of startups rising every day and investors tightening their grip on their money, it is very important for an entrepreneur to find an investor who is willing to stick to the venture for a period of time. For that, one must develop a stable client base.