According to source, Globally on an average more than 300 Million start ups created each year but only 40% of them turns their venture into profit.
There are number of reasons that contribute to a startupβs failure. These include lack of marketing opportunity, funding and mainly procrastination.
USA(77,000) and India(17,000) are the countries with most startups following by UK, Canada and Australia.
And, the start ups from these countries actually solving the majority of today’s problem. So, what’s new they are doing? Let’s discuss it below.
Top 5 Start up tips for Beginners
- Think, Evaluate and Decide your product/service by keeping in mind the present as well as future expectations.
- Now, calculate how much investment do you need at the initial stage.
- Make a blueprint of your overall concept which includes product/audience/business model.
- Do some R&D for your competition and get in partnership with like-minded people.
- And, most important be a student and have patience throughout the process.