MAKING AND BREAKING are the parts of any business something like the globe. There are a lot of Examples of Business startups that do well but Fails. Like Hutch, we chat, Videocon and much more.Let we discussed Reasons for Business Startup Failure in India below:
What is the story behind this failure?
Why do some business startups fail in India?
The Indian government is on the way to provide them with a very handy support. There are a different kind of norms relaxation in TAXATION and assisted financial support by implementing schemes like “STARTUP INDIA”.Here we are going to pin up the top 6 reasons to Business startup failure in India”.
Top six Reasons for Business Startup Failure in India:
1. LACK OF CLEAR IDEA
Once you have the idea, it’s important to test its reality check on ground level. Whether the startup ideas will be beneficial for common people around or will it be productive enough to cope up in the market for next two years?
Most of the startup in India and their leaders fail to test the idea. You have to implementation technique correctly. As required in the buzzing demand and supply market. You have to be very clear with the basic theme of your idea otherwise, you may end up doing something which may not be profitable to the startup. Business Batao
is a platform which gives your idea in a successful way.
2. RESOURCE AVAILABILITY AND MANAGEMENT
Any idea turning into business requires resources to set up its unit for implementation.The availability of resources for a new business is very limited in a country like India. You have to pay hefty fees for every resource which can be productive for your business. Availability of resources is the main reason behind the Reasons for Business startup failure so, it’s very important to be clear about the availability of resources which you are using.
Sometimes and mostly, It is a very common reason for Business startup failure in India. Where the business leader fails to manage the available the resources well. To sinks, the business management of resources is very important. This becomes a real problem when you are the owner of a limited budget startup company.
YES, you are right its “paisa bolta hai”. Money is the basic need for everything in this world. This is not limited our own personal needs but also becomes important when accounted in business terms. Also, the ultimate aim of the business is to earn a profit that is ultimately money. Investor hesitates to invest their money in newly started ideas because of a risk factor. There are many ways to take loans from financial Institutions. But it is also not so easy for New Business start-ups.
TALENT is something which gives you an upper hand in every aspect of business. It is greatly required when you are a buzzing startup. Also when your startup turns into a million dollar company. Business is all about dealing with people and their minds. So here you have to be a little talented or enough quick to
learn the rules of the business world quickly. Lack of Skills and talent training program is one reason for business startup failure in India.
Now the question is where, how and why the talent is required in business? Talent is required where you have to deal with people for business related matters. And to convince anyone to do work for you and with you and much more. Some Examples are:
purchase of resources, machines and other things required. You have to be very careful and wise as you are the owner of a limited value startup.
REMEMBER-“NOBODY AND NO-BODY IS BORN WITHOUT TALENT-ITS THE ATTITUDE WHICH CREATES THE WHOLE PICTURE’
5. THE DECISION MAKING WHAT’S NEXT?
Decision making is a process which decides the answer to the question WHAT’S NEXT? Thus, selecting the best course of action, from among many alternatives becomes very important for any startup business. It is important for the successful operation of the startup business. All the operational jobs like plan discussion, direction, controlling, are determined by the decision making process.
FOR A STARTUP BUSINESS, EVERY SINGLE DECISION BECOMES VERY VERY IMPORTANT AS WE HAVE VERY LIMITED OF EVERYTHING.
A reason of business startups failure is wrong decision making.
6. LACK OF MOTIVATION AND LOVE FOR YOUR
There is a saying “ENJOY THE WORK YOU DO AND DO THE BEST YOU CAN” SO, for making any business idea a
successful one, you have to love your work, your idea and almost every part and everything which sums up the business strategy.
Many of the business leaders and ideas have failed due to lack of motivation and love for their business.
ALWAYS REMEMBER-You don’t have to be money minded in the
initial when you don’t have a well-settled business, but side by side with time, be mindful of turning the business idea into a well-settled company.
Above were some reasons for Business startup failure in India. For getting consulted and growth contact Business Batao.