The seven reasons why entrepreneurship failed: too creative as the center

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[Guide] is there a great idea to make sure that entrepreneurship is successful? 3/4 of startups have been eliminated from the market without contact.

Tencent Science and Technology (ICE dust) Beijing time June 23 News, according to foreign media reports, Ciplex founder Ilia Posin (Ilya Pozin) recently published the article pointed out that the seven mistakes led to entrepreneurial failure. The following is the full text of the article:

Can a great idea make a successful start?

Although the data below is a bit annoying, 3/4 of startups have been eliminated from the market without contact. Yes, even great ideas are thrown into the dustbin. As a founder, mentor and member of the Youth Entrepreneurship Committee, I've seen too many startups die prematurely.

Even if it sounds daunting, realistic expectations are key to the success of startups. Through years of involvement in startups, I've summed up many mistakes and blunders in entrepreneurship, including negative partnerships, overly developed products, and poor marketing strategies. Of course, if entrepreneurs can avoid the following mistakes, then waiting for them will be successful.

1, too creative as the center. It's hard to understand, but success depends on more than just a good idea. In today's society, a lot of creativity is caught. You're certainly not the first person to think of it. The real key is the people who do things. Don't tie yourself to some kind of creativity and do things in a broader perspective.

2. Give up too soon. Given the success of entrepreneurship, giving up is certainly not a factor. Creating a career requires a strong sense of responsibility and perseverance to overcome obstacles. To be resilient in the face of difficulties, to continually overcome negative emotions can help you accelerate your progress on the right path.

3, ignore the magic of simplicity. Startups often lose focus and develop their products over and over. Believe it or not, adding a few features doesn't differentiate you from your competitors. Make sure you are designing the smallest available product (minimum viable product).

4. Plan the marketing strategy beforehand. You think you're developing a great product, and others don't. So the degree of marketing and user acceptance is the key to success. I often see many entrepreneurs spend most of their time and energy developing products, but in terms of product release, there is no detailed strategy or budget. If you want to make the company grow and develop, start with a good marketing strategy.

5. Never ask for advice. Escaping any harsh criticism will only lead you to failure. The constructive criticism provided by experienced people can keep the company developing healthily. Keep an open mind when collecting these feedback. Change your strategy for those who really deserve your attention.

6, think too much. It is simply impossible for everyone to use your product. You can think big, but find your own small market. This will make marketing cheaper, more efficient and more convenient. For example, if you develop a golf product, you're not going to sell it to Alaska, right? Instead, you should focus on the potential common interests of a region and the chosen target customers. This makes marketing strategies simpler.

7. Hire the wrong person. As I said before, talent is the driving force behind great ideas. If your team is filled with people who are not passionate and resourceful, then they are laying down the foreshadowing of your failure. They may even be your business partner. If you set up a long-term success goal, choose the right team member and they will balance you in terms of skill, perspective, and perspective.