I published an article this morning: Be careful with these entrepreneurial ideas: eight worst start times
I have explained several mistakes in entrepreneurship and I am very inspired. Everyone knows that entrepreneurship is a thing of life. Although success is accidental, I can learn more about the causes of failure and avoid detours, next we will summarize the seven main characteristics of the failure of internet startups:
1. Part-time entrepreneurship
If you are determined to start a business, be sure to do it with all your heart and soul. It is very difficult to start from scratch. It is often necessary to make every effort to succeed. It is acceptable to have a part-time job, but it will greatly impede the development of better performance and potential.
We often hear people say they will work part-time before they raise funds. The chart below shows that part-time entrepreneurs raise an average of 24 times less funds than full-time entrepreneurs. Moreover, it is difficult for part-time entrepreneurs to maintain a sufficient frequency of activities (such as product updates and marketing) to boost user growth. The market also often uses this to verify that the product is attractive enough. Full-time work is particularly important for product start-up companies that need to reach the critical quality of the number of users to reflect the network effect (such as Renren and Weibo ).