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According to Investopedia, in 2019, the failure rate of startups was around 90%. Research concludes 21.5% of startups fail in the first year, 30% in the second year, 50% in the fifth year, and 70% in their 10th year.
According to business owners, reasons for failure include:
1. RUNNING OUT OF CASH,
2. BEING IN THE WRONG MARKET,
3. LACK OF RESEARCH,
4. Bad partnerships,
5. NOT RAISING RIGHT AMOUNT OF CAPITAL AT THE RIGHT TIME,
6. Inefficient use of funds and other resources,
7. INEFFECTIVE MARKETING,
8. TAKING ADVICE FROM THE WRONG PEOPLE,
9. Poor financial management,
10. LACKING GOOD MENTORSHIP,
11. LACK OF GENERAL AND DOMAIN-SPECIFIC BUSINESS KNOWLEDGE: FINANCE, OPERATIONS, SALES AND MARKETING, and
12. Not being an expert in the industry.
The missing component to many of these startups, which may have otherwise been amazing companies, is a robust, growth plan. The plan needs to be strong and reliable and help you scale your business. Remember, “IF YOU FAIL TO PLAN, YOU ARE PLANNING TO FAIL.”
Also, high-quality pitch decks are essential to raising seed money from angel investors and venture capitalists.
We, at Unifinn Global Consulting, help founder to transform their ideas or technologies into successful business ventures with greater valuation and smooth investor exits. We offer a unique set of services that are tailor-made to meet their growth targets, including:-
1. Making strong business plans and growth plans as a blueprint for your success
2. Creating pitch decks with modern and exciting design and visual aesthetics
3. Pre- money valuation supports
4. Creating financial models
5. Start-up mentoring services
6. Accounting, management reporting and cfo supports
7. VC and angel fund raising and late stage fund raising
8. Strategic consulting
9. Management consulting, board or near board level advisory supports
10. Inorganic growth advisory, including mergers and acquisitions, divestitures
11. Exit planning, pre-ipo financing
We always look at continuous enhancement of shareholders value by identifying opportunities for growth and expansion.
Let’s explore the opportunities together, contact us for our supports.
Contact us now