Unknown Reasons Why Startups Fail

Photo by Annie Spratt on Unsplash

Perhaps if a group of like minded people come together with the right incentives to begin a start up, they can unlock each other’s potentials in a phenomenal way.

I listened to a Ted session on The single biggest reason why start-ups succeed by Bill Gross.

His discovery was based on Idea, Team, Business model, Funding, Timing.

Idea

This is problem the beginning of the startup journey. The “aha” moment that births a movement.

Team

A good team no doubt would be a great accomplishment for any startup. Often startups assemble a poor team.

Business Model

How the startup intends to bring in revenue that ultimately increases the chances of survival.

Funding

Well, it’s safe to say most startups would almost never have funding initially. But funding isn’t the most important piece to the puzzle.

Timing

This could easily pass as the most important part of these 5 concepts about Startups. An idea can be just timely and catches on or pre-timely and fades away.

Which ever the case, these 5 are essentials for any Startup.

In 2015, Forbes reported that 90% Of Startups Fail