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18 years of startup insights: why most fail and how to succeed

Vikash by Vikash
August 9, 2024
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18 year of startup - vikash sharma
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In my 18-year journey with SparxIT,

I’ve seen countless businesses shut down faster than they open,

with dreams shattering quicker than they are envisioned.

What’s the main reason?

Lack of planning and understanding of what it takes to build a serious business,

especially in the digital age.

Here’s what I’ve observed:

Startups often choose cost over quality.

They prioritize early delivery over a well-finished product.

They favor scripted codes over real knowledge and experience.

Many don’t understand the importance of a Minimum Viable Product (MVP)

and fail to use it effectively to test their audience and build based on consumer feedback.

You will be shocked, but:

70% of businesses don’t take documentation seriously.

60% underestimate the importance of design.

90% don’t value deployment, hosting, and the nuances of running an optimized business.

Running a business is more time-consuming and costly than the initial development phase.

Many fail to think through critical elements:

What server should they host on?

How many visitors will their app or website attract?

How much will they spend on marketing, and do they know the right platforms?

A staggering 90% of businesses aiming for greatness never plan their marketing budget.

They fail to realize that marketing is often more expensive than building the entire product.

Strategic planning is essential,

including understanding and utilizing MVP to gather feedback and build what consumers really want.

Hard work alone isn’t enough.

Businesses are built on strategic planning and smart investment.

Ready to take your business to the next level?

Let’s talk about how we can plan better, invest smarter, and build stronger.

 

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Vikash

Vikash

📈 Bootstrapped SparxIT.com . 🥇15 Years . We MVP Your Startup . Experts of eCommerce . Blockchain . NFT . Also, an 👼 Investor.

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