Starting a business can be an exciting and rewarding venture. If you do it right, you can become your own boss and build wealth for you and your family. However, over 50% of startups fail in the first year for various reasons. That doesn’t mean every entrepreneur is destined to fail- you have to know the common reasons for startup failure and how to avoid them.
It can come down to funds, your staff or simply bad planning. But these mistakes are easy to avoid if you know what to prevent. Joel Devidal, accomplished entrepreneur and founder of SMEJapan.com, details some of the most common reasons for failing startups and what you can do to avoid them.
Lack of Demand
Sometimes startups fail simply because there isn’t enough demand for them. Sometimes entrepreneurs will take a successful idea and execute it all wrong.
You could be in an … Read the rest