4 Crucial Stages of Your Startup’s Failure

Around the world, hundreds of ideas are given the shape of MVP every day. Those ideas go a long way before actually turning market fit and then even profitable. In between, many stages are set for your startup’s failure.

You get an idea, sometimes out of curiosity, out of necessity or inspired by something or to compete on a different feature set with the same product in the market. The idea comes in mind. It starts chasing you and forming dreams of better future — for you and for the world around you. And you decide to act on it.

Most of The Ideas Die Inside Brain

As soon as an idea strikes you, your brain starts analyzing all the pros. and cons. involved. Your brain is very good at this. It thinks about all growth possibilities, all international acknowledgement and, all the problems that you may face in future. Would it work or not? Would I be able to find my target audience? There is a lot of competition, how would I survive it? Where is the money needed? What if I failed? Will people call me loser? What after that? Would I still be able to live my life-like this?

Sometimes this stage turns into worst nightmare called ‘paralysis by analysis’. It leaves you stuck. You get confused. This is a state of mind when you can’t decide. Even if the future is uncertain, there are equal possibilities of success but you develop the fear of failure. That fear kills your startup before it materializes.

You Finally Decide To Do It But Step Back by Feedback of Others

Here is your clear mind with a clear idea. You start sharing it with your family and friends. As usual, some like it and some don’t. Ironically, the negative feedback impacts more than positive one and believing those negative people, you give up on our journey.

It is pathetic. People, who can’t do anything, advise others. They comment on your life goals. They critique on your processes. These are the same people who take humanity back to its stone age.

You Start Building But No Early Traction Demotivates You

You believed in your idea, didn’t listen to those negative people and you started building it step by step. The product is live but there is no traction. People are not using it. This is the situation that is faced by almost every innovative product startup. For first time entrepreneurs, this statement horribly goes wrong, “Let’s build and they will come”. Nobody comes. This demotivates you. All the money, effort and time it took in building the product, now looks like a complete waste. Instead of trying new ideas, tweaking in marketing approach and polishing product, you fall prey to this demotivation. Some of us quit at this stage.

You Fight Back And Bring Good Traction But You Run Out of Money

You set up a timeline. It didn’t go well. Now you have no money to run company. You know by instinct that you can pull it off if somebody supports you. If you don’t have to worry about financials, you can better focus on product to make it best and marketing to reach out to more customers. You start chasing people, investors, friends and family. This is another tough time. People promise, some just keep you in loop for months. This time can break you down, forcing you to shut down the company. If you can cross this, if you can manage to save your company, tomorrow is yours. This happened with many successful companies in the world. When you think there is no way, a ray of hope arises from nowhere.

Just believe in your idea!