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This is How Many Startup Businesses Fail in the First Year (+Survival Tips)
This startup survival guide outlines the most critical startup failure statistics to keep in mind when planning your launch. We'll delve into the whats and whys to understand what makes startups fail. Also, failure can be an ambiguous term – what's considered a failure for some might not necessarily be for others. We'll help you draw the line so you can quickly identify the early warning signs. You'll also get a crisis management playbook in case you run into rough terrains.
In a CNBC interview, Kevin O’Leary of the investment hit series Shark Tank said that most of the failed startups he funded had one common problem: founders unable or unwilling to make timely changes. Failures here mostly result from rushed success strategies, ineffective marketing, poor revenue models, and inappropriate technologies that undermine efficiency in various aspects of a startup. There’s only approximately a 1% chance of failing after Series C. The risks decrease significantly, though mature startups still face challenges of sustaining innovation and fending off competition.
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