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90% of start up companies fail.
- 42% have no market demand
- 29% run out of money
- 23% have the wrong team
- 19% are out competed
- 18% pricing/cost issues
- 17% user unfriendly
- 17% have no business model
- 14% poor marketing
Avoid these and you WILL succeed. It’s a fact.
- 42% have no market demand
- 29% run out of money
- 23% have the wrong team
- 19% are out competed
- 18% pricing/cost issues
- 17% user unfriendly
- 17% have no business model
- 14% poor marketing
Avoid these and you WILL succeed. It’s a fact.
How to avoid being one of the 90%: (thread)
Before I get into this, it’s important to state:
These numbers are factors, they are not supposed to add to 100%.
- 10% of startups fail in Year 1
- 70% fail Years 2-5
- 75% of Venture Capital deals fail
Before I get into this, it’s important to state:
These numbers are factors, they are not supposed to add to 100%.
- 10% of startups fail in Year 1
- 70% fail Years 2-5
- 75% of Venture Capital deals fail
1/ Give People What They Want
How do you know if people will by what you are selling?
1. Ask
Do market research. See if what you are selling is already being sold.
2. Follow Trends
Use @Trend_Reports or @explodingtopics to see what is hot and trending in the world.
How do you know if people will by what you are selling?
1. Ask
Do market research. See if what you are selling is already being sold.
2. Follow Trends
Use @Trend_Reports or @explodingtopics to see what is hot and trending in the world.
2/ Cashflow is the lifeblood of a business
My favorite thing to say is:
Stop everything you are currently doing.
Go get customers
Go get results for those customers
Go get more customers from those results
This is a crucial first step.
My favorite thing to say is:
Stop everything you are currently doing.
Go get customers
Go get results for those customers
Go get more customers from those results
This is a crucial first step.
3/ Know Who to Hire, How to Hire, and When to Hire
The first step to building a solid team is to build out your company’s Org Chart.
Here is a different thread on how to do that: https://twitter.com/thecammartinez1/status/1296181575261069314
The first step to building a solid team is to build out your company’s Org Chart.
Here is a different thread on how to do that: https://twitter.com/thecammartinez1/status/1296181575261069314
4/ “If You’re Not Obsessed, It Will Be Hard To Endure.” - Steve Jobs
To avoid being out competed in your market, you have to know how far you are willing to go.
Here is a different thread on that: https://twitter.com/thecammartinez1/status/1301184674350333952
To avoid being out competed in your market, you have to know how far you are willing to go.
Here is a different thread on that: https://twitter.com/thecammartinez1/status/1301184674350333952
5/ Pricing is Defined by Value
The value of your product is defined your customer.
You’re in the business to make money. That is not something you should apologize for.
Let your customer tell you how much to charge & gauge your competitors pricing.
The value of your product is defined your customer.
You’re in the business to make money. That is not something you should apologize for.
Let your customer tell you how much to charge & gauge your competitors pricing.
6/ People Crave Simplicity & Instant Gratification
The notion that a product should be usable by its customer is Product Design 101.
A good product is a slew of moments that tell him or her who the company is, what the product stands for, and what you want it to mean.
The notion that a product should be usable by its customer is Product Design 101.
A good product is a slew of moments that tell him or her who the company is, what the product stands for, and what you want it to mean.
7/ Design A Successful Business Model
A) Define Your Target Audience
B) Create A Customer Value Proposition
C) Install Business Processes
D) Determine Key Resources
E) Develop A Clear Path To Profit
F) Assign Management Roles
A) Define Your Target Audience
B) Create A Customer Value Proposition
C) Install Business Processes
D) Determine Key Resources
E) Develop A Clear Path To Profit
F) Assign Management Roles
8/ Marketing > Everything
For marketing tips, take a look at @oliviercantin’s 10 Marketing Commandments: https://twitter.com/oliviercantin/status/1299431189925769227
For marketing tips, take a look at @oliviercantin’s 10 Marketing Commandments: https://twitter.com/oliviercantin/status/1299431189925769227
Thank you for reading!
_______
Would be grateful to get a like on each tweet and an RT on the first tweet if you read this far!
Also, be sure to check out some of my other threads below:
_______
Would be grateful to get a like on each tweet and an RT on the first tweet if you read this far!
Also, be sure to check out some of my other threads below:
How My Business Made $700k+ Subscription Membership sales (w/ no ads) in 2 years. https://twitter.com/thecammartinez1/status/1296898114343690247
Plan your quarters the right way! https://twitter.com/thecammartinez1/status/1303358869998047236
Launch a Successful Podcast: https://twitter.com/thecammartinez1/status/1294006559513534464
A Checklist To Scale Your Business: https://twitter.com/thecammartinez1/status/1294321961342967808
