Why Startups Fail
© griffithchris

Most startups fail. But yours doesn't have to.

When you make the decision to start a business you need to be aware of the reasons why startups fails. Small Business Trends recently pointed out five reasons startups fail, and all five amount to not doing the basic due diligence involved in laying a foundation for your new business to rest on.

Ask yourself some questions. Q1: Do you have a life plan? Starting a business needs to fit into that life plan. Probably you have ideas about your life that you haven't formalize or articulated. The time has come to do that. Q2: How good is your network? If there's no one to help you, you'll probably fail. It's really that simple. Q3: Does your new business target an identifiable niche? You need to know who you're marketing your product or service to. Q4: Do you have the money you need? Q5: do you have the discipline you need?

You're startup doesn't have to fail. But if you can't really answer these questions, it probably will…