What are the industry types?
First of all, what are the industry types? The industry we have chosen is either industry correct or that industry is wrong.
Reason Why Startup Fail
- Wrong Market/ industry Selection
Examples: You’re a marketing head, at a commerce company. So there you will realize that there is so much chatting, even within e-commerce. When you buy a product from a company, it costs you thirty-eight rupees. And Amazon is selling it for forty-six dollars, with sub-taxes and profits added on top of the site. So how is this happening? So you will be relieved that those who are playing this game are playing a big game. If you are ordering a hundred products, they may be ordering 50000 products. So how much difference is there making within the price? They may have had a lot of funds, in which they are closing the market. So that no new e-commerce can stand up to it. So its greatest potential is that they are moving their big stick coast to zero. As much as Los is going, they believe it is Los for us. So there are many factors, after which you can relinquish, that if the e-commerce industry wants to compact Amazon, you can’t win. Because you don’t have as many funds as Amazon has. How much time you have to fight them, as all funds will be exhausted after that. And you will feel that all your work has flopped.
Faulty Business Model
The other big reason is that you think your business model is flawed. You think that if you do this you will be in the benefits, and if you go with this extra calculation, so you are at a loss. If you have a factory installed and you are getting a product costing Rs. 90, then what you need to do is to make it Rs. Sell it, you’ve done all your planning, and you say you put a profit margin of five rupees on it, and you have a quota of 90 rupees. So you packed up everything Got it, you did the branding, you did the advertising, and told everyone. Then it turns out that the cast of the material you’re mixing with is flattened. It was sixty bucks at the start, when you calculated it. And now his rate is Rs 110. So can you increase the value of your product? You were running five rupees at the top of the idea, and previously you had done its branding, advertising. It can also be, that when you are calculating, you have made a calculation error. In this you did not rent or pay the salary of the employer. So keep in mind that you have to solidify your business model.
We are thinking, that the product we have created is the most imported product for the consumer or for the customer. We are saying that we will make pagers in this time of day. In case you didn’t know about it, it used to be just a message on mobile in the past. You are making a pager today, and convincing people that this is a touch screen pager. But your customer needs a smart phone pager. It needs a good camera, it needs a good display, it needs good processing power. He wants to talk on the phone. But no, we will sell pagers. Business will end, and you will become Nokia. As happened to Nokia.
Weak Feedback System
Now from this point we make another point that our feedback system is very weak. When we start work at the beginning, what we do if our job is at the development stage, we do not know for ourselves what the market is lacking in our product.