what is the major reason for the failure of a startup?
i've worked in a startup (cant specify name of the company). it went well for about 3 to 4 mnths. but abruptly they shut down the company saying their project was a failure which lead them to a huge loss. while we from our end worked very hard on the project and we believed that definitely there may be mistakes but we were so sure it will not be a failure. we didn't really understand what went wrong. what do you think will cause a startup to shut down?
Failure is the part of journey towards the success so just accept it Rumesha. If we look at from positive point of view the main reason of failure is that we are trying. But startUp is always on critical situation. From the best of my knowledge the study of different startup is most important before start its own because from the study we analyse their behaviour towards problems, failure and success. We should work on ..What are their strategies ? And No. Of little things like that makes big differences in life. Market demands are also considered.
According to me We should have a proper plan for any project. We should have the detailed planning of backups in tough situations to handle it. We also have a graph of our work it would be on daily, weekly or monthly basics to know the performance. From the graph we easily predict the up and downs in work.