I am John Kash from London(UK), a designer having over 5 years experience.My work specialization are logo design, graphic design, Calender Design, Newspaper Ads Design, business cards design, clothing design, social page design & blogging is my keen interest.
You’ll agree that it’s often exciting to own your own hours and be your own boss. Levelling the playing field in the ever-so-competitive market, though, might not be.
”A report issued by CB Insights reveals that 42% startups fail because they fail to analyze the needs and demands of target customers beforehand, and 29% startups fail as they end up burning all their cash and collapse financially.
Okay, so now you know the cracks that may lead to the failure of a promising startup.
But here’s the big question:-
How would you identify such cracks, avoid making mistakes and save your business aspirations from falling flat?
Well today I’m going to make it easy for you.
All you need to do is spare a few minutes of your valuable time.
Here Are 10 Reasons Why Most Online Business Startups Fail
Reason #01: Not Analysing The Needs & Demands Of Target Customers Beforehand
Not analysing the needs & demands of target customers is yet another reason why 42% startups fail to succeed. Remember, you need enough customers to buy your products or service, for your business to succeed. And that’s why it makes sense to evaluate your potential customer base before launching your new business.
You’ll need to present yourself attractive option to lure customers to your business. The best way to understand the needs and demands of your potential customers is to put yourself in their shoes and look at your products and services with their point of view.
Then tailor your products, services and your marketing efforts to those customers. There are manifold rewards of understanding your customers: you get to strengthen the brand loyalty and trigger positive word-of-mouth recommendation for your products and services.
Reason #02: Not Having A User-Friendly Website
A basic ingredient to run an online business is to have a well-designed website. You need to put everything regarding your business in your web pages. People will come across your business through your website. When they will visit your website, it should make a good first impression on them. This means that each color, font, image, symbols, text, etc, elements you pick to create your website should impress the visitors.
Your website must hold all the information that your target customers want. It must have pages such as About Us that tells all about what your company and business does. Tell how your business stands out in your niche market. There should be details about the products or services you sell.
Also, mention the specific solutions that your business provides to the customers. Makes sure that your website has other pages like Contact Us that has your company’s physical address or any other address.