How Can We Safeguard Start-ups from Failure?
Quoting Sources from U.S. Dept. of Commerce, Bureau of the Census and other relevant sources information listed on the website of caycon leads to an interesting observation that half of all start-ups fail within their first five years.
So the actual numbers could be much more if we consider those that are not covered in this analysis as well.
Let us look at some situations here to safeguard start-ups so that they don't burnout.
#Before you start you needs to make sure that you are ready to launch(From all possible angles).
Start-ups are ideally places where very passionate people (often youngsters) join together to execute something immensely interesting and meaningful from their point of view.
Generally speaking most of the start-ups I know stems from the lateral thinking of the brilliant minds resulting in out of the box solutions.
A wrong move or a wrong timing would result in disaster. Recovering from such a wrong move might need a herculean effort to make it alright later.
Launching should be ideally in tune with the changing external environment so that it is done in the most favorable condition possible.Agree that external environment is something which is not in our hand but at the same time a bit of vision coupled with proper planning and other suitable measures taken would guide the start-ups to reach the goal without getting hurt and thrown out.
"Sooner or later, disaster will strike. A disciplined approach to identifying and mitigating risks can help you beat the odds. Will you be ready"?
#Start by doing what’s necessary, then what’s possible; and suddenly you are doing the impossible!
While the start up entrepreneurs with high energy and full of life are daring to take risks, I think it is also important to be realistic in this particular case.
What is important is establishing successfully by starting with what you can manage well. While I have come across some very successful start-ups, I have also seen unfortunately some burnouts due to misfortune a