Successful failure of Startup?
Today's Young Entrepreneurs somehow believes that getting funded in Startup is the only criteria for successful business. Not sure whether anybody agree or not, but getting funded is a most common reason of failure for majority startups.
Our Gujarati Business mentors and leaders always says it takes 999 days to setup the business working in real. Let us accept that getting customer, selling them right product and stay profitable for each sales transaction is a real job of any business.
Once the startup get funded, they spend the fund for Offers, Discounts, Joining Bonus, Referral Bonus, Free Stuff with Goal just for acquisition of Customer base over the few nights. This act is a First Step towards the failure because the approach is not organic.
One should have ability to put right efforts with patience without entering into gambling act with someone's Money. This does not damage only particular business, but it Damage Entire Market. When you damage your own market, you are killing your own business opportunity.
Market is a Play ground and business is a Game. So let us follow the Core Rule of Game as a Player. One has Enter into Game with healthy & ethical competition wherein Customer will get multiple options and choice, and at the same time every supplier must be able to protect their profit margin. If Buyer & Supplier equation is correct then only there is a scope of ROI & Growth.
Keep focus on Selling quality product to customers, Each sales transaction must have a right profit margin, and your business should have ability to retain the customers and get repeat sales from them.
Getting Profit is the only Goal of Any Business. There is no shortcut, no other way to get successful in business.
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