Entrepreneurs success secret: 10 Reasons 90% of startups fail!

in #steemiteducation5 years ago (edited)

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Introduction

Many entrepreneurs are able to lift off the ground, but up to 90% crash back to the ground after a very short existence. It is very shocking to see all the efforts and vision of a young man disappear into thin air. Most times, it does not happen by accident. There are a lot of factors that can combine to send a startup crashing just after take off. One of them is:

Pricing: Yes, if the business charges a very high price above what others take, it will be difficult to find customers. Especially in a really competitive market with many other business taking lower, a startup has to watch that its price is not higher than what is obtainable elsewhere. Customers or clients will always flock to where they will obtain the same goods or services at a cheap rate. So high pricing can be a factor to a startups crash.

Watch this video and see the nine other factors.


Video Source

Share your experience or helpful suggestions

What other things can cause a startup to crash? Did you learn anything from the video? Share your ideas with us! Your valuable comment will earn you a small Steem bounty when this post pays out.

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What I learnt at college was most start ups fail because they can't manage there money properly in the harder times because they have already spent it.

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@focusnow, Most important Hurdle is lack of experience because without experience foundations will get shaken if adversity or unseen events arise.

Another great read @focusnow

In my personal view, most entrepreneurs fail because they do not have patience and do not think "long-term". Determination is key to success, more than anything else.

ps. What is your own private opinion on all those mentioned (in video) reasons?

Upvote on the way :)

Cheers
Piotr

Comparing your business to other people's business. You should know yours is unique

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