From my under graduation time I am always highly interested to start a startup. So finally I tried that 6 months ago and I was a total fall. There were some reasons are advice after my startup falls.
Reason behind the fail
- Partnership Conflict
- Less skilled people
- Idea missing
- Low budget
- Less planning
- If possible then stop looking for a partner. Try as best as you can using own head and run the program alone. In my startup we were 4 people, In first week of starting full force working one partner betrayed and we close the partnership with them. After that others partner was demotivated and stop working after few days.
- Actually truly speaking, I wasn’t good at handling people at that time, I think I didn’t know a lot of things that time. With the time I learn more about technology, programming languages and different ways to do things. So experience has a value. Don’t go out with just your idea. Gather some experience too and if possible then hire some awesome skilled person. A skilled person can help you to do many things. A skilled person can help you to raise the whole company.
- Idea need to bulletproof. We had some ideas in our mind but there wasn’t a great idea. We didn’t brainstorming about solving others problem, we were centered to solved our problems. Like — we need more money so lets startup a company. So, an idea to help everyone is needed. Solve others problem then one day you’ll find you’re in advantage in lot of ways. It has live example — Writing code for open source can find you a awesome job.
- Budget is really a issue when you don’t know how to business. Business doesn’t need a lot of money but we thought our budget is low. You can start a business from zero. Example — Starting a freelancing company in upwork/fiver/any other platform.
- Planing is really important. We forgot this is a vital role. Without the perfect planning nobody can achieve anything. In our company we planned a lot but problem is none of our plan was good enough to run the company
In the end solving a problem with an idea within proper experience & plan is really necessary to build a successful startup I think. And also need to know everything changes with time so adoption is really important too. Knowing about business and keep upgrading personal skills is also important for a company. The last thing is trust & bonding. This thing need to run a company for a long time.