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Startups don’t die they commit mistakes which kills them.
The present glamour of word startups coined is very new and not even decade old, though there have been so many companies and individuals who started companies and were called as new business rather than the word startup, which has been to some extent glamourized in present scenario.
Let’s understand the statement on certain parameter’s as there would be various parameters for things to fail.
The first is the foundation of startup, which is the idea itself where in the idea can be on something new either in terms of product or service or following with some changes and modifications for an existing idea which has been proved either in same country or any other part of globe.
The mistakes committed in this above parameter is that what is good in some part of world may not be good in other part of world as human being which comprises of society is gregarious in nature and cannot be understood in laboratory, and also does not behave in same way in same situations.
The next is the offering which is either service or product, the major problems you come across in service is providing end mile connectivity in practical terms, as in theoretically the end mile connectivity looks very simple.
For e.g. if a company has service where in patient can book appointment with doctor of his choice looks very straight and simple now the revenue model of getting referral fee from doctor can be a loop hole where in the doctor next time to the same patient takes directly his fees. The whole process goes for toss
The major problems in product are either taking too much time to launch or taking too less time to launch or not upgrading at appropriate times of changing scenarios. The founders love for product goes beyond passion and becomes divine this is where the problems occurs where in the founder thinks his product is going to solve 360 degree problem and in reality it was not required at all.
For example digital advertising company launching device, which will connect all the outdoor screens in restaurants so that the advertisers can capture the customers at convenience. Product and solutions looks great, but what happens when the restaurants don’t allow you to connect and also the media planners don’t consider your metrics of viewership. The product goes for toss
These two parameters are the foundation where in startups don’t die as the idea is required and has scope but commit mistakes, which ensure that startups commit suicide.