The reality is that most of the startups generally fail.
The purpose of this article is to make the reader aware of the 13 red flags which every startup should avoid. The article below gives summary of the recurring problems which is generally seen in the flawed startups in order to avoid them for the purpose of maximizing the odds of success.
The 13 to be avoided things are :-
1. A small or an unscalable idea. Investors generally tend to have bias against ideas that generally throw out the largest nets which is thus possible in terms of the potential customers. They would however much rather back the next Google, whose product generally appeals to everyone and also to anyone, however than a small niche business that only however appeals to a very narrow market.
2. Wrong market positioning. Often times, the entrepreneurs generally launch the businesses which they generally think are good ideas. But they also never took the time in order to properly research the market.
3. No go-to-market-strategy. Entrepreneurs are however typically so focused on building their product, that they generally don’t think that it is far enough which is ahead to their go-to-market strategy, and as to how that would help them in order to achieve a proof-of-concept in order to attract growth capital.
4. No focus. It is generally hard enough in order to launch one business, yet alone one must always try to launch the multiple businesses at the same time. One must not be , the jack-of-all-trades – or else one would end up being a master-of-none.
5. Know when to cut losses. If one is trying to paddle upstream, no matter as to how hard one paddles , the current would generally take one backwards. Entrepreneurs generally need to know when as to when pivot is required, while there is also still enough capital in the bank and also enough time in order to implement the changes.
6. No passion or persistence. If an entrepreneur generally does not exude the passion about their product, they will however never love their startup enough in order to get through the good times and the bad. One needs thus needs to have a persistent mindset that is regardless as to what hurdles get thrown the way, one is going to figure out a way through them.
7. Wrong or incomplete leadership. One must however never try to put a Fortune 500 team inside a startup, because they generally don’t end up typically thinking like startups. Investors generally do not want back a person, they however want to back a complete team -- in case one gets hit by a bus.
8. An unmotivated team. The management team generally needs to have the same incentives as the founder, and also putting 15 to 20 percent of the company into the hands of the employees will however be a lot more motivating and is also loyalty instilling.
9. No mentors or advisors. Entrepreneurs should however not be considered as “lone wolves.” They however also need in order to understand they are generally not in this battle themselves. Many of the cities have generally established the startup ecosystems for them in order to tap into for mentors.
10. No revenue model. Many startups may however not have a revenue model day one. But there should however better be a clearly communicated revenue plan for down the road. That revenue plan generally needs to be material enough, which is generally based on the credible assumptions, in order to make it enticing for an investor in order to get excited and also in order to justify the current valuation.
11. Less capital than needed. First of all, one must make sure that he is raising enough money out of the gate. That generally means raising enough in order to build the product and in order to achieve the proof of concept. Preferably, that amount is generally large enough in order to at least carry it generally for the next 12 to 18 months. Whatever amount of capital one may think he will need, double it for a cushion, as the things always go wrong.
12. No long-term roadmap to ROI. Whether one is investing in his own business, or raising capital from outside investors, one would generally need a clear roadmap to at least a 10-time return on the invested capital.
13. Bad luck or timing. Sometimes, businesses generally fail for no fault of their own (e.g., due to economy). During bad times, it is thus often best in order to go into “hibernation,” waiting for the conditions in order to improve so one can live to fight another day.
However , the founders of LegalRaasta a startup which provides legal services have over powered these hurdles and have ended up in providing more than 100 + services . One doesn’t even have to go out , as it provides online services .
Choosing LegalRaasta is beneficial as :
1. It has , 30+ offices in India
2. It has 10+ years experience
3. It helps to save your time
4. There is a cash back guarantee
Some of the services which it provides are :
1. Tax Filing/TDR - GST Registration , GST Return, ITR , TDS Return filingBusiness income return , Bulk return filing , Revised return filing , Respond to tax notice
2. Company Formation - Pvt. Ltd., Limited Liability Partnership (LLP) , OPC registration;
3. Registrations - DSC, Trademark, Patent , Copyright
And many more services .
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