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Career and Success

Why startups fail, according to their founders

Before you build a website. Before you write a business plan. Before you even tell your parents what you’re doing. Ask yourself one question: Are you solving a problem people actually have?

Before you build a website. Before you write a business plan. Before you even tell your parents what you’re doing. Ask yourself one question: Are you solving a problem people actually have?

Beyond the idea, there are more practical reasons startups fail. Polled founders also cited a lack of sufficient capital (29%), the assembly of the wrong team for the project (23%), and superior competition (19%) as top reasons for failure.

Why startups fail

According to market research firm CB Insights 47% of all startups fail because there’s no market need for what they’re making.

Source – https://crew.co/blog/validate-solve-problems

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By Vaseem Ansari

I’m Vaseem, a Software Engineer by Profession, a Traveler, a Foodie by Heart and the founder of VaseemAnsari.com. I started traveling from college days and it has become a part of me now. So when ever I happen to get a chance I pack my bag and am on the roads. You can follow me on these social networks Facebook, Twitter, Google+ and Linkedin.

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