Over 90% of internet startups fail today. Yes, you read it right. Well, this is a fact and not a factoid. Stats tend to trump rationalism. This dreadful stat is no exception. Let me take a non-debunking approach to enunciate and elucidate the reason behind the failure of internet startups.
To begin with, let me mention the mundane, yet the great story of the modern world. Every morning, millions and millions of dis-satisfied souls get up with every axe to grind. With utmost difficulty, they pull up their socks and start working in their respective offices. This routine presents itself as a malaise and one day, dissatisfaction gets the better of these souls. Soon, they embrace ‘Work from home’ approach. ‘Work from home’ sounds ideal but it is all the more challenging.
As the statistic mentions clearly in the first paragraph, only 10% of internet startups taste success. The other 90% bite the dust. Here are a few more reasons why over 90% of internet startups fail today:
- Wrong perceptions about internet: Internet is the sane voice of technology. However, its denouements are not always welcome. Internet startups are not completely about maintaining websites and web pages. Internet startups may be on diverse domains such as Cloud computing, Internet of Things etc. You require supreme expertise in various technologies. It must be remembered that, once you have left your company, you are no longer a part of a pack. You are a lone wolf!
- Lack of self-discipline: When you work for a company, there is undoubtedly a sort of compulsion. When you are working for yourself, you miss a few necessary compulsions. For example, you do need not get up early and stick to the routine timings. Flexibility is a privilege that you can enjoy when you work from home. However, many abuse this flexibility. Lack of self-discipline will act as a dampener on your career.
- No business background: If are new to internet marketing or any other niche that is associated with internet, you have to be eagle-eyed and extremely cautious. Internet marketing is replete with diametrically opposed approaches both in methodology and ideology. If you have decided to earn a living by banking on internet, ensure that you an out-and-out maestro when it comes to handling internet businesses.
- Improper planning: Any company will have aims and objectives. Similarly, you need to define your aims and objectives. Plan your investments properly. Have short term goals and long term objectives. Otherwise, embrace yourself to join the figure of ‘90% internet startups.’
- Wrong mindset: If you have embraced a few preconceived notions such as- I can make instant money, Minimum work-Maximum pay, Work less- celebrate more , your mind is indisputably in torpor. Seek a mentor. Seek the wise words of those who have made a fortune by ‘working from home.’
Use your own judgment to follow or not to follow your instincts. Initially, your credit may grow at a snail’s pace. Eventually, you will make big money! Cheers!