90% Of Startups Fail. Why?: Noone ever thinks about real issues!

As a strategist, I found "Why do startups fail?". I've researched and worked with the founding teams as a freelancer. I found that work ethic is something that startup founders should have, but unfortunately, they don't have it! You'd do well to meditate on this complex and bleak truth.

These are the reasons why 90% Of Startups Fail:

Mindset:

Focusing on degrees rather than understanding how to execute what we learnt through life. Schools and colleges force us to memorise and get marks. They just taught us that experience is the key to success, but it's not true, there should be no age to achieve anything, and there are no practicals, only theory. They believe that if we can score good marks, we will succeed. What we learnt in schools and colleges is just a warm-up, and our proper education starts. That's why so many people to suicide. It's about the mindset of what we have in society.

Wrong concepts of success. A person can become successful if they are retired from their job and realise what they gave to society, the nation and the world. Till then, they achieve and have failures in life. This is a lifelong process until they come to an end. This is called real success.

Wrong Founding Team

Too many want to become entrepreneurs and own businesses but need to learn how to execute their trades. So they make a trend like earlier; they set a mindset of doctors and engineers, and our elders ran to get it and nowadays, it's about entrepreneurship.

An entrepreneur should be accountable for what the company does, but no one is taking responsibility. As a result, false goals and ideologies can contribute to a company's failure.

Scalability

Many startups fail because their founders what to become billion-based companies (unicorns) as soon as possible. Instead, we should know that business is to figure out the product/market fit and should be essential for customers.

We should know two things: "Money makes more money" and "Don't go with money". Both are two different ideologies. One is that Investment is necessary to grow ahead. The second is about working on yourself and not focusing on the money. These will help to scale your business.

Weak business model

Customers will buy your product rather than your ideas. Businesses and consumers have a unique connection with each other that they can use daily. It's about more than ideas and innovations, changes that will not reach your goal. Learning from your mistake will help you to fight in this competitive business world.

Conclusion

Understanding the causes of failure is essential, especially for first-time entrepreneurs trying to get their interest in this profitable market. Being a strategist gives you the freedom to change your mind and learn from your failures. Therefore let's go together to build from whom we've learned to establish a better future for your startups.