It is true that we can learn from the failure of start-ups around us. Many people are trying to run the business around us and if we look carefully at their failure then we can avoid them in out start-up journey.
Read in detail about the experiences, lessons, and stories of people who try to run a start-up
Channaia founder of Shubhamilana.com thought the idea of a start-up is perfect. After all, the arrange marriage concept is never going to die in India. The idea was correct but the start-up failed due to lack of technical support. So, Channaia shared a tip that get a co-founder for your start-ups who is a technical expert.
Saurav Karmakar started a company named SASLAB Technologies. The concept of a company was based on the evergreen Information Security Services and Products. But the start-up could not perform due to a poor quality of services. Saurav shared a tip that, people working in your company is a big asset. Hire right people to get the job done.
BlogTard.com a product of Yash Shah couldn’t complete the journey further. It got closed down as the company could not fulfill the expectation of customers. Yash shared the views that in any market “Customer is the king”. Do a lot of research on what your customer want before you launch your product in the market.
Siddhant Gupta introduced FTW to the market with an idea of funky wooden sunglasses. The frames on which some sarcastic messages will be written. However, the core team had only knowledge about the marketing of the product and had no idea how to produce the product. Mr. Gupta feels that every start-up needs more mentors who can guide them to execute the idea.
Gaurav Sharma got an idea that one should provide home delivery of food in late hours. He came up with the start-up ‘Late night food’. However, soon he has to close down the venture due to financial problems. Gaurav feels that a steady backup of money is important when you go for a start-up.
So, this is a confession of founders about “What I learned from the failure of my start-up”. Do you have any of your own stories? Share your start-up failure or success story with us. Let people learn from your story.