Key reasons for Startup 😵 declining and how to deal with it

Past few years have shown that the startup foundation declines. We've done some digging on this issue. Here are some possible reasons for it.

1. Half-assed research on the audience

If you're not tuned in to your audience's needs, you're bound to hit some troubles. You should use a more complex approach. Here comes deep research and user interviews. This helps to become well aware about market expectations. Then you can nail those expectations.

2. Wrong capital estimations

You should recognize the difference between money-making and comfort-making features. The first ones will bring in quick money, while the second ones will validate the product and play the long game.

3. Investing in wrong features

Remember for what reason you are here. Users' needs come first, and then the money. You can get easy money at short distances, but without focusing on user experience it won’t last in the long run.

4. Not having a solid core team

You've probably heard about 3H Personality Theory. It tells about having the right mix of talents for a minimum viable team - a hustler, a hacker, and a hipster. The hipster brings the creative juice and design factors, the hacker cooks up the tech magic, and the hustler makes it work with leads and revenue for the business.

What do you think about the reasons for startup formation declining? Let's chat!