All business people must have felt the ups and downs in building a business. No exception is the startup business which is currently booming. Startup is a business that can be likened to a child. Must be treated from infants to adults. But unfortunately many startups fail in the middle of the road and cannot survive. Then what really can make a startup fail? Here are some errors that can make a startup fail. Try to understand the errors below as an evaluation material.
Solve the same problem with others
Maybe you can see that some successful startups are duplicates of existing startups. We can see BukaLapak and Tokopedia that resemble eBay in the United States. Both can be successful because when it was established there were no other players who could solve the problem in Indonesia. Making it easy for the two startups to localize the business idea to fit the market needs in Indonesia. But keep in mind, duplicating is not easy. Instead of solving a problem that has already been solved, it is better to look for other problems that can be given a solution.
Release the product too fast
Apparently releasing a product too fast is also risky, you know. If you release a product too early, it can have an impact on the reputation of the startup that you make. Can you do that? Maybe when users try it, the features offered on your startup are not perfect. So it’s likely they won’t come back again.
Besides being too fast, too long to release a startup is also dangerous. We can see that many startups are delaying the launch of their startup because they feel their services are not fully prepared. Not only that, usually they also do not understand the root of the problem that is trying to be solved, or even afraid of facing consumers. Remember, the longer you release a startup, the longer you will get answers to these problems.
Avoid business competitors
Of course whatever the idea is, in a business you will definitely get competitors. Inevitably you really have to face this. But remember, you should not avoid competitors by reducing profits, even reducing the quality of your product or service.
Not able to adapt
In the initial stages of establishing a startup, of course you have a vision and mission to be achieved. But of course these goals can change again along with the development of the startup. Remember, a must be able to adapt well. If your business model is considered inappropriate, don’t hesitate to replace a better business model. Please note that many successful startups have changed their initial ideas.
Those were some errors that could make the startup fail. There are still a number of other causes that can lead to a startup, for example, choosing the wrong platform, not thinking about the target users, wrongly hiring employees, wrong management, and many others. Of course, every startup has different difficulties. So you need to understand what is a problem in your startup. After knowing, you can find a solution to the problems that exist at the startup. Do not let the problem actually make your startup just fail. How, are you ready to fix your startup?