20 Reasons Why Startups Fail In Their First 3 Years
Picture this: you've got a new invention or business idea, and you're prepared to start your startup. However, the entire thought scares you considering the data of startup failures - they don't paint a great picture, using more than 50% of companies failing inside the first 4 years. That's one out of every two companies.
That you should make certain your company succeeds, you will have to input lots of thoughtful planning and difficult work. That you should avoid individuals pitfalls though, you should be aware of reasons for their failure, which we'll discuss below.
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Insufficient a good strategic business plan
Just as you have an excellent idea, that isn't enough for getting a effective business - many companies had brilliant ideas...