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Why are startups failing?

Startups are being referred to us almost every week now because they are failing.

Startups are failing for a variety of reasons including 

  • Insufficient funding
  • Single founder
  • Part time founders
  • Founders don’t know the industry sector well enough
  • The problem the idea is solving isn’t big enough
  • Not done a proper business plan
  • Lack of competent technical lead
  • Lack of competent product manager
  • Too much hesitancy
  • Not enough drive
  • Fixed price project (resulting in falling out with outsource provider)
  • Held over barrel by outsource provider, e.g. we won’t finish phase 1 unless you commit to phase 2 now
  • Etc.

So before you attempt to start your company make sure you have these covered.

If you need any help with your startup please do not hesitate to contact us.