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
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.