The Major Ways Most Startups Fail Miserably
Startups are notoriously difficult to make successful.
In fact, in the UK, almost 50% of startups are predestined to fail the moment they open their doors. This can be a sad fate for many, so it’s important to understand the ways you can counteract these difficulties and build your operation on the most solid ground you can. Not only this, but also overcoming these issues will give you much more practical business experience that you can then transmit to other projects, or expansions within your current project.
When it comes to the stormy seas of business, the most turbulent waves create the best leaders, but that doesn’t mean you should make the times harder for yourself than you need to. There’s an insidious attitude taking place within the startup go-getter industry of ‘working hard all the time, from morning to night.’ Whilst working hard is a fantastic attitude to develop, sometimes it isn’t the be all and end all. Working smart is also just as important, and comes with its own profound benefits. In order to do this, you should read the following tips to counteract the difficulties you will face if you run in too bull-headed.
A Bad Website
Having a bad website or mobile phone application is one of the quickest ways to alienate clients in the modern world. You’ve probably seen a few yourself. Over and above design problems and aesthetic woes (which can visually turn off your clients), there’s also the question of the information on your website; even if you have the most beautiful of product lines, does the site provide the details a consumer wants?
The norm these days is that support details, personal accounts, and order forms are all accessible from your website. You should think of the site as less of an ancillary boost to your exposure, and more as the main hub within which all of your operations can be accessed, or at least learned about. Helping your team seem more human by placing a ‘meet the team’ page on your website, as well as your company’s mission statement and history, can also help you seem like a firm worth supporting, as opposed to some simple nameless entity that someone cares little about engaging with.
To make sure you avoid any issues, it’s important to hire professionals – such as Darren Langley web designer – from day one, as they will support you with the years of experience you might be lacking in this department.
Bad Financial Planning
Poor financial planning can be a problem that plagues all areas of your startup if you’re not careful; you are involved in the business world after all, and so many platforms exist to help you part you with your hard earned cash. This is why it’s important to keep your production stock low, or at least bought in bulk; ask for help from people who are available to put in the hours without excess pay (such as friends or a business partner); and hiring an accountant, which is the best money you will ever spend. Think of this like hiring a gatekeeper to the golden treasure of your firm. They will be able to squeeze the pennies when you need it most, and also retain a cooler head when you are struggling to make ends meet. As a business owner who might be new to the world of money management, this can be an absolute boon.
With these issues taken care of, you will be on the right track to dominate in your chosen industry. Never say never!