MST-1 Speech

Good Morning Ma'am,

My topic is Why startups fail.

Obviously, If someone is thinking of a startup then Founders have a great idea and they are interested in that thing. They start with a lot of passion and they work very hard. They have a great team. Even then also more than 90% of startups fail. 

Now the question is why

>The first reason is wrong industry selection 

whichever industry we have chosen is it right for us or not? 

for example like we started an E-commerce company and we have funds. Now we buy products from any company to sell them.

we will definitely have to pay more amount as compared to other Big E-commerce companies like Amazon and Flipkart because they buy products in bulk which costs them less.

so with funds in our hands, we will be able to fight with these big companies for a maximum of 2-3 years. after that, our business will die.

so good industry selection with the hungry market is very important.

If the market is hungry then even if we change the services of our product people will buy it.

> the second and the primary reason that startups fail at an early stage is 

It is not the search for an idea. It is the search for the problem. What we learn is problem-solving. may it be the education system or society all of them teach us how to solve the problem.

but what we don't learn is Problem finding. If you don't know what's the problem or what we are doing wrong then our startup will definitely fail.

 so If we get a great idea about startup then 

we should think if the people are really worried about that problem that we're trying to solve.

or it's only us who is excited about that problem.

so In the initial stage, one should start looking for a great problem, not a great idea.

because if you want to be a hero then first you need a villain.

Thank You, ma'am