About Us|Contact Us|Register|Login

[google-translator]

20 Main Reasons for Startup Failure

20 Main Reasons for Startup Failure
20 Main Reasons for Startup Failure Entrepreneurs start a business with the single goal of achieving success. But we also see them fail miserably. 80% of startup companies witness closure since three years of commencement says a statistics. So, what should entrepreneurs do to be in that 20% population range of successful people? One good way to start is to learn from the mistakes committed by other startup companies. Research Giant CB insights has analyzed 101 failed startup companies and found out 20 important reasons categorically. CB insights is a company that focuses on business, investment and investment strategies. Also they supply valid information on startups and their founders, venture capital and Angel investment. These are the 20 main reasons for startup failures: No Market Need – 42% Ran Out Of Cash – 29% Not the Right Team – 23% Get Out-competed – 19% Pricing/Cost Issues – 18% Poor Product – 17% Need/Lack Business Model – 17% Poor Marketing – 14% Ignore Customers – 14% Product Mis-Timed – 13% Loose Focus – 13% Disharmony on Team/Investors – 13% Pivot Gone Bad – 10% Lack Passion – 9% Bad Location – 9% Not Financing/Investor Interest – 8% Legal Challenges – 8% Don’t Use Network/Advisors – 8% Burn Out – 8% Failure to Pivot – 7% SIDBI, a government based financial organization caters to the financial requirements of small and medium enterprises. It plays a crucial role in the growth of SME’s. Startup India and Standup India are the two movements initiated by the central government to enhance the spirit of entrepreneurs. Now, SIDBI has also started SIDBI Startup Mitra to associate startup companies with incubators and investors. It is quite difficult for the startup companies to get guidance and funding. These two factors are very vital for the growth of a startup firm.  Various investment agencies, angel investors and incubators have associated themselves with Startup Mitra which in turn facilitate the tie-up. SIDBI startup Mitra also paves way for startup firms to reap the benefits of government plans. The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents, partnerships and news media. India’s top 10 funded startups of 2016 Ibibo Group : $ 250M Investors : Naspers Industry :  Online Travel Company Snapdeal : $ 200M Investors : Ontario Teachers Pension Plan, Iron Pillar, Brother Fortune Apparel Industry :  online marketplace BigBasket : $ 150M Investors : Abraaj Group, Sands Capital Management, IFC, Helion VC, BVP, Ascent Capital Industry : Online Grocery Shopping and Online Supermarket CarTrade : $ 145M Investors : Temasek, Warburg Pincus, Marche Capital Industry :  online auto classifieds platform Byju’s Classes : $ 75M Investors : Sequoia, Sofina Industry Byju’s mobile app has video lessons for IAS, CAT, GMAT, GRE, IIT-JEE & Class 6-12 and comprehensive study material Lenskart : $ 60M Investors : IFC, Ratan Tata, Kris Gopalakrisnan, IDG, Adveq Management, TPG Growth. Industry : Shop online for Sunglasses, Eyeglasses and Contact Lenses for men & women Mobikwik : $ 50M Investors :  GMO Payment Gateway, MediaTek, Sequoi, Tree Line Asia Industry : Online Recharge, Mobile Recharge & Bill Payments Lendingkart : $ 32M Investors :  Bertelsmann India, Saama Capital, India Quotient, Darrin Capital, Mayfield India Industry : SME-lending firm, Short-term loans for Small Businesses Nestaway : $ 30M Investors :  Tiger Global, IDG Ventures Industry : Marketplace for shared home, apartments, flats  rentals Droom : $ 29.8M Investors :  Lightbox, Beenext, Beenos, Digital Garage (Japan) Industry :  online marketplace to buy & sell used cars, bikes, scooters, bicycles, aero planes.  ...
read more

How to Increase Facebook Engagement for Small Businesses

How to Increase Facebook Engagement for Small Businesses
How to Increase Facebook Engagement These are some tips on how to increase Facebook engagement for your small business effortlessly and successfully. “People share, read and generally engage more with any type of content when it’s surfaced through friends and people they know and trust.” The optimal number of posts on a single day is between 3 to 5; get to know your audience and post content that will grab their attention. “People influence people. Nothing influences people more than a recommendation from a trusted friend. A trusted referral influences people more than the best broadcast message. A trusted referral is the Holy Grail of advertising.”  Cross-Promote your Facebook shout-outs with other social networks like Instagram and Twitter to extend your reach and impact. “Facebook Fan Pages are email newsletters with smaller pictures. Use Facebook to boost new product announcements.” Your fans like your page because they want to know what’s cooking with your business. Be consistent and give your audience the needed information. “With everything Facebook offers for marketers, it’s easy to lose sight that it’s also a tool that can support your brand’s PR or publicity efforts. The reality is that journalists rely on Facebook to source stories, and Facebook actively promotes the platform as a “Rolodex” with 1 billion contacts for reporters.” Using humor in Facebook is a great way to get interaction. People are usually on Facebook to be social, and if you’re able to entertain and inform in your posts, you will get more shares, likes and comments. “By understanding your audience, you can optimise your content strategy, target your advertising better, and generate more return on investment.” Users don’t like long and boring posts. Huge percent will not even consider reading such long posts. Make your publications concise, clear and accurate. “In order to land a spot on a user’s Facebook news feed, try shifting your scheduling strategy from posting during the most popular times in the workweek to the most effective times.” Photos that show what happens behind the scenes are a good way to enhance brand credibility. This might seem counter-intuitive at first. And – it takes a bit of trial and error to work out what the most effective time is going to be for you. But it makes total sense. An average user’s newsfeed is going to be packed with updates, and you’re up against them all in order to get their attention. Posting during the most popular times – read – the busiest times – mean that the competition is even tougher. But switching to quieter periods means that you’re more likely to actually increase the amount of interaction you get. How well do you know your audience? And are you using all the tools at hand to get to know them even...
read more