TOP 10: Reasons why startups fail

Top 10: Reasons why startups fail


10. No innovation

No, innovation is not design or a feature, innovation is something completely new, outstanding business model combined with different surprise factors.

Entrepreneurs often think that their product is innovative because they are different from everyone else on the market, but there is a huge difference between innovation and upgrade. Often, they upgrade existing solutions or suppress small percentage of a specific problem without any long term changes.

 

Your product or service will determine your future. You need to focus to create something that will positively affect your customer and influence their perspective and expectations. In order to become successful, you need to become a trend that will raise the standards of your industry.

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About Vedad Mešanović

Entrepreneur, award winning project manager, startup adviser (4Posh, ItsMeSee, CyberChimps etc.), recording artist (Mascom Records/Warner Music Group), CSR consultant (CSR+), healthy living enthusiast, diplomacy student and active volunteer. Named "The Wonder Child" by regional media.