When startups fail

A startup is a phase in every enterprise in which everything is tested and everything is uncertain. This status usually creates a feeling of confusion among the work team. There is no solid bond around what should be done and what everyone should do. How can we estimate a startup can ever succeed or even sustain for a while with these feelings around! 

It is about time to know what goes in your team’s heads. It is impossible to find founders having typically the same view for a startup company. We are never typical. Any startup starts with 2 or more friends getting excited about an idea. What you have to know is that this idea is not much alike in your friends’ minds. It is a bit different or sometimes it looks similar but deep in mind, it has a huge difference in everyone’s mind. 

What is considered the main problem here? I think it is easy now to say that the main problem is losing focus of efforts and all types of resources. What is hard to say is that most likely founders get confused, lose the trust in each other and even trust in themselves that they can do that. We are not talking here about persistence, it is sometimes good to stop, we are talking about losing your compass by losing the trust in your idea and even yourself. You will find a new decision coming up almost every day, a change always comes to your head. That is a failure that you have to stop doing it. Just take a step back and stop to think. What to think about?!

Let’s talk about the solution to know …..

To make it short, a simple written plan, simple calculations, and targets, and pick a leader for the plan or for the team. Here below few tips to do so.

For the planning, it is not about being a great planner just write down the steps you and your partners or team members are thinking about with some time dedication have a discussion meeting about it with some pencils, paper, and sticky notes, not more than 2 or 3 hours. Set in this meeting the main steps to create your product or MVP and other steps for reaching the targets of your business sprint, and finally, if you can put some detailed activities of to reach these targets that would be totally great to do and will help too much to decrease the confusion of how to reach these targets. Talking about targets, let’s jump to the next point.

You need to settle with your partners on major figures of costs across at least the first 6 months to make sure everyone is accountable for it and agrees on putting these costs onto this plan. Let’s say it is easy to not make a way to skip it. Make your experience, how small or big, help you put the suitable costs for what you planned and for your product. The targets are your compass. It is what says your priority of time. Numbers, the target revenue you aim at, or at least the number of sales. are what say your business is successful and can sustain and grow or not. Create targets the help you have successful quick wins to make sure you are on track and keep your team will up. Set your targets and get back to your plan to make sure it can achieve it and keep in back and forth between plan and targets for a while till it is satisfying and just start, but don’t forget to pick the leader before of the plan or phase or much better to settle on who is managing the company for a long while if you can trust each other enough or anyway if one partner is dominant.

How to pick a suitable leader? The best is the one with the highest enthusiasm for the idea if his/her experience, time availability, and acceptability among the team is enough, and for sure, dedication and commitment. But never forget that the plan is the main leader.

WHAT IF we found that the plan is far from what we are looking for in a moment, just sit together as soon as possible and replan. Never ever try to do it by just breaking the plan and calculations as most probably you will just lose efforts, time, and money.

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Moezbellah Alshareef

MoezBellah Alshareef Chief operations officer