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Why Startups Fail at Growth

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10 Reasons Why Companies Fail At Growth:

The infographic below states the actual reason why companies fail at growth.

  • They don’t focus on retention first
  • They don’t run experiments
  • They subscribe to “product is everything” mantra
  • They don’t dig in and learn
  • They search for a silver bullet
  • They don’t double down
  • They don’t focus
  • They don’t delicate the right resources towards growth
  • They don’t invest enough in data and analytics
  • They don’t change and adapt

why startups fail


Top 10 Reasons Why Startups Fail At Growth FAQ

What are the reasons why startup companies fail?

Startup companies fail at growth because of these reasons:

  • They don’t focus on retention first
  • They don’t run experiments
  • They subscribe to “product is everything” mantra
  • They don’t dig in and learn
  • They search for a silver bullet
  • They don’t double down
  • They don’t focus
  • They don’t dedicate the right resources towards growth
  • They don’t invest enough in data and analytics
  • They don’t change and adapt

What is a focus on retention?

Focus on retention pertains to the company’s activities and actions to reduce the number of customers that leave for better companies/organizations.

Why do you need focus on retention to succeed?

Companies should focus on retention because it helps you to retain as many customers as you need. Most of the time, customer loyalty, as well as brand loyalty initiatives, are very effective.

Why do you need to experiment?

You need to experiment so you can know more things that are significant to the success of your business.

What is “product is everything” mantra?

“Product is everything” is repeated frequently by companies that are trying to attain success using ONLY their products. These companies should understand that aside from the product, there are other recipesfor success.

Why do you need to avoid subscribing to “product is everything” mantra?

It is bad for your company to only focus on its product. You should also consider the kind of service you offer to your customers.

Why do you need to dig in and learn?

Learning should never stop especially when it comes to the success of your business. Learning new things everyday allows you to open your mind to other possibilities that would come along.

What are some tips when digging in and learning?

  • Pick a desirable time to study
  • Study with others
  • Immerse yourself
  • Keep journals
  • Set goals

What does “search for a silver bullet” mean?

“Search for a silver bullet” means an effortless solution to a problem.

Why do you need to avoid searching for a silver bullet?

There’s no easy way to solve problems. You need to strive so you will succeed. Success is sweeter after a worthwhile battle.

Why should you never double down?

Marketers will have to face numerous challenges that might make them tremble or double down. However, if you really want success, you must face each challenge with a heads up.

Why do you need to focus?

As a gateway to all thinking skills – learning, problem-solving, perception, decision making, and memory – every marketer need to stay focus and eliminate distractions when at work as much as possible.

Why do you need the right resources towards growth?

Right resources meana right solution. One of the problems that marketers tend to face these days is the wrong choices of resources for their company’s growth and development.

Why should you invest in data and analytics?

Every marketer needs to invest in data and analytics so they will know the things that they need to improve and those that need to be eliminated.

Why do you need to change and adapt?

As they say, change is the only constant thing on Earth. Once you embrace change, you will learn to adapt to it and improvement will come along.

 

Larry Kim

Larry Kim is the CEO of MobileMonkey, Inc. a leading provider of Mobile Messaging Software for Marketers.

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