Entrepreneurship failure is an indispensable part of the entrepreneurial ecosystem, but no one wants to fail. In order to help you avoid the fate of failure, this article lists 18 main reasons for entrepreneurial failure.
- Start your own business
You need a team that can brainstorm, eliminate unwise decisions in time, and encourage you when mistakes occur.
- Various undesirable positions
This includes the living location of the employees you value, the location of the surrounding supporting industries, and the location of the contacts that can bring you opportunities.
- Narrow vision in the face of competition
Competition among peers is very important. Without competition, there is no collision of ideas.
- Can't proceed from reality
Just like imitating Facebook, instead of mending some aspects ignored by Facebook, we start from other directions and often fail. Therefore, instead of trying to solve the problem from the company's perspective, it is not advisable to try to find a backer that can solve the problem.
- Obstinate opinions
Generally speaking, a successful startup will end up with a different idea. Therefore, once a good idea appears, you must do all the preparatory work well. However, this does not mean that the plan will be changed every week, which is usually fatal for a startup. You should review more to see if this new change can guide some development. If you can make full use of every new idea and add new factors to the previous concept, you will probably gain something. If you want to expand the new direction that some users may agree with, this may also be a good attempt.
- It's not nice to hire people
After all, the profession has expertise, and many businessmen can hardly tell which excellent employees are worth hiring.
- Inappropriate platform selected
How to select the right platform? The usual approach is to hire good professionals and let them choose. But if you are not a professional, you can also consult the scholars in the computer science department to see how they do in the research project.
- Slow product release
Only by combining your ideas with users can you fully understand what you need to develop in.
- Early product launch
Consider the overall goal, and then start to collect some subtle but useful questions. Although these questions are small, they are significant for entrepreneurs, and collecting them will not waste too much time. It should be remembered that some small problems that may occur at the initial stage can be tolerated, but it will be difficult to avoid these problems if the product is released too early.
- No specific user is considered
If there is no specific user and no understanding of them, it will be difficult for the enterprise to succeed.
- Insufficient funds raised
If the investor's money is obtained, it is easy to carry out the next step of development. Generally speaking, you must raise a significantly higher level: form an idea, a work prototype; After the formation of the prototype, it will be manufactured and launched, so as to obtain the growth of the enterprise.
- Excessive capital consumption
Hiring too many people usually leads to excessive consumption of funds, so try not to hire too many people. It should be recognized that what you have to pay is equity, not wages. But don't save money because you want to win the trust of employees, so that they can work hard for the enterprise, which is what they care about most. At the same time, we should hire employees who can write code or obtain users, because this is the primary task in the early stage of enterprise development.
- Too much money raised
Once you have raised a lot of funds, it will be difficult to change the direction in the middle. The more people you work with, the more you should stick to one direction.
- Lack of investment managers
The position of investment manager is important because they have many useful insights and should not be ignored. However, it should be noted that they should not be involved in the business of the company.
- Gain profits at the expense of users
Compared with making money, it will be more difficult to make things that users like. As entrepreneurs, they should not attach too much importance to the operation of business models, but ignore the interests of users.
- Experience personally and find customers
Attracting users is not just about using computers, it requires personal efforts.
- Internal strife of entrepreneurial team
The author's suggestion is that entrepreneurs should discuss in advance, so as to avoid disputes and achieve orderly exit. Because the origin of most disputes is not the matter itself, but the dispute between people. People are the most important factor in a startup, so don't compromise on this.
- Half hearted
Most failed founders of startups do not quit their previous jobs, while successful entrepreneurs do the opposite.