Oprah Winfrey's 'OWN' Flopped Startup: Lessons for Entrepreneurs to Bookmark
2. Spend like a startup
Startups close when they run out of cash or run out of investors who are willing to fund. When startups spend money on luxuries before attaining key milestones of financial sustainability, they increase operating losses and business uncertainty.
OWN has already announced major spending cuts. That's a good start for improving the chances of survival.
1. Adversity is not failure
OWN is too early in the business development cycle to be called a failure. It's normal that some startups work and some don’t. The point is to learn from first missteps and move with a new development.
It's also totally expected that all startups will face unexpected problems like backing out of investors and partners from funding deals, websites crashing, employees quitting, and new market entrants. All of this is part of the early life of a startup.
.jpg "Radiance Renewables: Driving Sustainable Inno-vation in India's Renewable Energy Landscape")
.jpg "Caim By Arelang: India's First CandyCeuticals Company Offering Nutraceuticals in Irresistibly Tasty Treats")