5 REASONS BEHIND THE FAILURE OF THE STARTUPS
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Key words: Startup failure, case studies, startup challenges, business model, financial management, team composition, product-market fit.Abstrak
Abstract: This paper explores major causes of startup failures, and common
barriers to business success. Although startups are new ventures with great
entrepreneurial potential and rate of development, they fail because of weak business
models, wrong positioning of products on the market, internal conflicts, lack of finance,
and high competition. The paper examines literature and conducts interviews with
startup owners and identify some of the problems that plague many start-ups including
the focus on product development and the wrong revenue models that may not respond
to market needs. Based on real life examples of Quibi, Theranos and Juicero, the study
delivers key take-aways and suggested frameworks that focus on robust business
models, identifying the right market, building the right team, financial management
and developing competitive differentiation to improve startup outcomes.
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