Why your tech startup will probably fall According to markflair, inc

29
cmt right
30
Comment Right
52
cmt right
8
cmt right
Printer Print Email Email
Why your tech startup will probably fall According to markflair, inc


Every tech entrepreneur, when starting, wants to think that they have the best idea ever. That may be true for some. In this generation, it’s not the best ideas that win but the ones that are best executed. These are the reasons, according to Markflair Inc, why your startup will probably fail.



1. YOU



Yes, you. Most tech entrepreneurs don’t realize that they may not be the best people to run their companies. Scaling a startup requires skill, something that most tech founders may lack. Take an example of Larry Page and Sergey Brin. These are the founders of Google. They could have run the company themselves but instead, they recruited Eric Schmidt in 2001 to run the company. This is because they accepted their shortcomings and remedied it by bringing onboard a better skilled individual.



2. TIMING



You can have the best piece of technology but when you are way ahead of your time, you are doomed to fail. If AirBnB, Inc was founded before the housing crisis in America, it would have failed. It was founded at the right time, when people across the country were looking for affordable housing. Thus it succeeded. The same can be said for YouTube, Inc, which was started when the Internet accessibility was higher than ever at the time.



3. RESOURCES



This is the most overlooked factor in most startups. Every startup requires a given amount of resources to stay alive. You have a better chance of succeeding with a bad idea and a million dollars as opposed to having a good idea without capital.



4. BROAD MARKET



Most startups start off by targeting a broad market, offering all kinds of services, forgetting the most important rule of any tech company- niche. You must have the patience to start small and work your way up over time. A timeless example is Amazon, Inc., which started out as an online book store. Accenture Corp. is a less known company, but a worthy example. It started off as a business and consultancy division of Arthur Andersen. It is now a global giant bringing in $39.6 billion in 2018



We hope this helps in your tech endeavors.



Read more news:



Allahabad Bank narrows losses to Rs 732.81 cr in Q3



Mumbai start-up launches 'personal robots' for kids



SPOTLIGHT
Gadgets
Google Pixel and OnePlus smartphones are catching up and giving stiff competition to Samsu..
Career
Wiley, a global leader in research and education has announced a series of blended learning progr..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will laun..
Finance
The Reserve Bank of India injected a total liquidity of Rs 2.98 lakh crore in the market in 20..
Entertainment
"Game of Thrones" author George R.R. Martin doesn't want season eight to be the final chapter of "..
Startup City
Youth are leading India's start-up ecosystem where the median age of founder-entrepreneurs..
US Indian
Facebook-owned photo messaging app Instagram has launched the beta version of its in-app sh..
Technology
Facebook-owned messaging app WhatsApp is still developing its previously announced "Vacatio..
Business
The Pentagon has selected Microsoft and Amazon Web Services (AWS, the cloud computing arm ..