What things required for Startups to avoid failure in the market.
# why startup companies fail?
It’s often said that more than half of new businesses fail during the first year. According to the Small Business Association (SBA), this isn’t necessarily true. The SBA states that only 30% of new businesses fail during the first two years of being open, 50% during the first five years and 66% during the first 10. Only 34% of the Company sustained after 10 Years.
A major reason why startup companies fail is that they run into the below problem
1) Lack of Process for Product
2) Poor Product Roadmap & Agenda
3) Bad timing for releasing new Product Features
4) Poor Application Architecture
5) Lack of Technical Knowledge
6) Not Much Brainstorming
7) Failing of Continuous Development (CD) & Continuous Integration (CI)
8) Poor Business & Financial planning
9) Poor Business & Financial Model
10) Lack Of Documentation (Internal & External)
11) Following Traditional Project Management Models
12) Lack of User Stories Clarification
13) Poor priority decision for Product Features / Bugs
13) Poor Management Team
14) Poor product quality
15) lack of Innovation
16) Lacking Uniqueness and Product Value
17) Rapid Growth and Over-expansion
18) Poor Marketing
19) Time Management
20) Lack of Discipline
# How We can avoid this Failure?
Using below things we can avoid startup companies failure.
1) Agile methodology
2) Web Application / Mobile Application Solution Architecture
3) Technology selection for Web Application and Mobile Application development
4) Bug / Task Tracking
5) Bug / Task / Documentation Tracking Process
6) Different types of System / Application / Software Documentation
7) Team building activities for improving performance
8) Test Cases and Test Planning
9) Employee goal sheet
10) Startups and Entrepreneur Mentoring
11) AWS Solution and Architecture
12) Database Optimization
13) System / Web Application / Mobile Application Performance
14) System / Web Application / Mobile Application Security Performance
15) User Stories Creation
16) Sprint and its process
17) Business & Financial planning
18) How to decide the financial goal of business
19) One on One meeting with employee discussion points
20) Continuous Development
21) Continuous Integration
22) REST API help & Discussion
23) How to decide the priority of the task?
24) How to decide the Estimate of the task?
25) How to Invest in the right team?
26) How to Enhance leadership skills?
We will discuss the above things in detail one by one in the next article.
Thanks
S S Kulkarni
