How not to “fall into the heron’s beak” or Easy way to avoid the risks when launching a startup

I once had a poster on my wall of a heron trying to swallow a frog. The frog got hold of the heron’s throat and was strangling it. There was written: “Never give up!” I realized: even if the circumstances are stronger than you, you can bypass them. However, another insight was: isn’t it better not to fall into the heron’s beak at all?

According to available statistics, 9 out of 10 startups fail. According to SvitSoftware specialists, most of the reasons for failures stem from incorrect and incomplete project implementation planning. Even BEFORE the start of development, you can avoid most of the causes of “death” of startups.

So, how not to “fall into the heron’s beak”?

Let’s go through the most common reasons for startup failures and consider whether you could avoid them.

Lack of a business model

Solution: By creating a clear plan for bringing your product to market, along with a precise technical specification and design prototype, before starting product development, you will avoid white spots in your business model.

Inappropriate team

Solution: You should approve certain specialists at each stage of product implementation. Conflicts and misunderstandings mustn’t arise in the team during work. Hiring developers from one team of contractors who will work on the project will be better.

Lack of demand

Solution: Responding to market needs is critical for a startup. Analyzing the market, target audience, competitors, and new trends are necessary. The lack of demand is based precisely on poor research at the very beginning before the product development.

Lack of funding and investor interest

Solution: You can avoid this by working on a clear business plan, MVP and prototype design, making the product attractive to investors. The correct presentation will allow you to sell your product long before it enters the market.

Untimely release of your product

Solution: While you’re procrastinating on getting your startup off the ground, someone’s sure to have come up with an equally great idea. We advise launching a raw but minimal viable product (MVP). This way, you will not only fully invest in creating a startup but also be ahead of your competitors.

Lack of enthusiasm

Solution: Rapid loss of interest, primarily due to “disappointment” in a product that does not bring in millions immediately after launch, is also the reason for failure. In this case, detailed planning and budget calculations will also help. A properly worked-out plan will always keep you in good shape.

The high price of the product

Solution: Sometimes, a product launch fails because of its high price. In this case, it is worth starting with the basic version of the product, which lowers the cost of the product on the market, but allows you to convey its value to customers.

*******************************************************************************************************

It’s pretty easy not to “fall into the heron’s beak”. It is only necessary to go through the detailed planning stage (decomposition, technical specification, team building plan, product delivery plan, project estimation), create a design prototype and start with an MVP.

Fighting for the life of your startup is vital, but it is better to avoid most problems in advance. A wise frog has a much better chance of survival.