Startups are a tricky thing. At a time when most people dream of starting their own business or becoming entrepreneurs, it makes sense to learn from those who have been there, who have done it. Here are some reasons why some startups have failed, as stated by their founders.

1. “I launched a recruitment technology platform to help companies find the right people to hire. We generated 1.2 million sales in the first year. our biggest client invested a good sum of 5% Life was great A few months later something happened and their CEO ended up leaving, the new CEO saw the investment as a conflict of interests. interests and killed the whole business, sinking our ship Takeaway: Diversify your customer base, never go 50/50 with a business partner 49/51 51/49 doesn’t matter – but someone one has to be the best dog. Otherwise, no one will want to make the tough decisions.” -Reddit

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2. “Our startup was related to the advertising industry. We were 3 co-founders. It lasted about 3 years. The cost of the server was probably the biggest expense after paying salaries. There were many reasons why it failed, but mostly poor tech infrastructure and not being able to adapt to new tech fast enough.Key Takeaways: Hire a better CTO, be more picky about co-founders, and also learn to code. Do I have regrets, no. Why? Because it was a great learning experience.” -Reddit

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3. “In my first e-commerce business, I created the website on Magento. The business sold vinyl wall graphics that would be printed on demand and shipped to customers. I am a self-taught designer and I created the website and graphics myself. I had operations lined up with a print shop and got my first sale from a Facebook friend. There was a lot of success in this business, but my head became negative and didn’t have confidence in my abilities as an entrepreneur and businessman.I wasn’t willing to invest in marketing and didn’t know how to start marketing.Lessons Learned: Doing Business Alone is hard, marketing without money is hard and I loved e-commerce but I wasn’t passionate about the product.” -Reddit

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4. “I didn’t have enough money to run at a loss the first year. Seriously, it’s so important to have that. I mean, technically my business could have survived, but I would have starved Taking into account the first year projections: do not forget your salary! -Reddit

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5. “I started an independent engineering consulting firm that was all about me. I haven’t spent enough time looking for new clients.” -Reddit

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6. “I didn’t have enough starting capital. So we changed our business plan to bring in small capital to save for our big projects. During this process, I realized that my partners We didn’t have the right mentality for what we were doing The momentum was there, but the momentum isn’t all we needed So I bailed out before to lose more of my money. -Reddit

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7. “I was too naive. As an engineer, I just wanted to create a product for customers and then hoped it would sell itself. So I created dispatch software for a local trucking. After I finished building it I found there were at least 10 other competitors with better features. I tried cold calling other truck companies, I had to price lower to be a compelling offer. In essence, I screwed up by not doing enough research, not offering a more unique product, trying to be 5% better than competitors, not being able to get help with sales, and much more. The only thing I did right was make good software. -Reddit

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8. “When it comes to marketing channels, I didn’t follow what the numbers said worked. I had my heart set on starting a blog to promote my products. But all my business success has come from marketing. influence. If I had to start over, I would have given up on the blog and put everything I could into the marketing channels that worked.” -Reddit

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9. “I did a lot wrong, but I also learned a lot. It was a mobile game tech startup. Things I did wrong:

– Had a co-founder on an equal footing, which sounds great, but the bottom line was that we agreed and compromised, there was never a harsh view or final word. I think we would have done better if one of us had led alone.

– We spent too much time building the product (because that’s the part we knew) and not enough time getting people in the hands and making sure it’s what they needed.

– Relied on a two-sided market without establishing itself in one or the other.

– I had no idea how to market or interact with users and/or customers.

– Suppose that liking something “in theory” would result in liking it in reality. -Reddit
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10. “I had a failed online startup (online vacation rental marketing). I looked at the competition in the market at the time and realized that the only deals in that space were horrible and expensive. I thought that at these prices I can provide awesome services. It became a race to the bottom on prices during this time. Lesson learned. -Reddit

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11. “I trusted investors to get over $100,000 without a written agreement. I had been in business with this guy for 3 years and trusted him, but when it came time to honor his deal, he gave up. In the end, every time I approached him about a contract, he had an excuse for not being able to sign it that day. Always get agreements in writing!! !!!” -Reddit

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12. “Of the 10 businesses I started, 2 failed. Their failures played a big role in my other future successes. Both were due to bad business models, bad partners, and bad deals.” -Quora

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13. “My best friend and I saw the terrible traffic and pollution in China and we wanted to do something about it. We left our American lives, quit our jobs and moved to China to start a ride-sharing startup. Despite no connection, we were able to raise seed money from reputable investors, won numerous awards (MIT, Castrol, Lenovo), joined 500Startups, built traction, built a team of 13, and had a great press.because:

– The concept of carpooling was still new in China and the market had to be educated.

– The carpooling model is sophisticated in reality: location, time, trust, legal, revenue model. Also, it’s hard to guarantee rides.” – Quora
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14. “It took me three founding teams before I could find the right team to start my business. Team number one failed because two of my co-founders quit and stole the company’s intellectual property. and left me for dead the day before we were going to be funded Team number two failed because the team wasn’t strong enough Team number three succeeded because we had the right combination of people who had the same vision and made a good team -Quora

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15. “These are the most important reasons why my last boot failed:

– We were trying to solve too many problems with different customer groups. This meant that we didn’t have enough focus to really meet anyone’s needs, and our product never launched on time.

– Our product was just slightly better than competitors.

– We were focused on building the product and not interacting enough with our customers.

– We wasted a lot of valuable time creating many features that no one needed.

– We were doing a lot of unnecessary activities like hiring too soon, getting PR, attending all the conferences, etc.” – Quora
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We can all learn from these failures.