Building a successful career is every entrepreneur's goal.
But Why Does Only 1 in 12 People Succeed When Starting a Business?!?
Why do the other entrepreneurs fail?!?
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According to research findings from Startup Genome:
- There are 2 fundamentals that determine a business's success: a good product and a large market for it. In other words, a business must be able to scale to succeed.
- To scale a business appropriately, it must balance the development of the following 5 factors: Customers, products, specialist teams, business model and capital.
- The main reason startups fail is “premature scaling.”
According to these findings, companies that scale prematurely are considered inconsistent, while those that scale at the right time are considered consistent.
- Inconsistent startups typically have teams over 50% larger before scaling and teams 50% smaller after scaling.
- Inconsistent businesses raise 3 times the money they need during the efficiency stage and 18 times less during the scaling stage.
$12,000,000,000 was the self-assessed value of inconsistent companies before scaling, but after scaling this fell to only $800,000
Chương trình liên quan tại YUP Education: X-Startup – khóa học khởi nghiệp «Khởi Chánh Nghiệp» · The Journey – lộ trình phát triển doanh nhân
