Having an idea is easy but the business of it is hard. And this is the nut we are about to crack.
You may have a nice idea with realistic or not so realistic targets. You may have even developed a roadmap which you intend on following judiciously with your team or probably pitched your idea to a group of investors and gotten your necessary funding but then, that’s just the standard way of doing things, you’ve not done anything out of the ordinary and it doesn’t make your business immune to failure.
You may have a nice idea with realistic or not so realistic targets. You may have even developed a roadmap which you intend on following judiciously with your team or probably pitched your idea to a group of investors and gotten your necessary funding but then, that’s just the standard way of doing things, you’ve not done anything out of the ordinary and it doesn’t make your business immune to failure.
It was earlier estimated that 9 out of 10 startups would fail until recent studies put the actual figure around 95%. That’s such a high failure rate and this is just around the world. In Africa, it is much more of a challenge to successfully run a business that would still be in operation even after years. Just in Nigeria, over 60% of startups shut down after 5–10 years. These stats are worrisome to say the least.
A great chunk of these startups are small businesses, and they are characterized by a workforce of less than 500. In the US alone, they constitute over 99% of all businesses and we can also say the same for Africa. Yeah, It is not just about the huge edifices. And the reason most of them fail, either at launch or just after a few years is deeply rooted in the foundational factors.
Venture building which has been in existence for about 22 years gives startups a better shot at success. Builders significantly increase startups’ survival rate by addressing the problems responsible for the fails. Reasons like building a low demand product, poor team, abysmal marketing and consequently sales, bad co–founders, and misguided focus account for 87% of these failures.
The long question in sync with your heartbeat now is HOW?
Here’s how the acceleration takes place.
Venture builders help to set up a team for business who will help analyze the overall concept. These people would try to understand the problem the ‘Idea–mother team’ is trying to solve and decide if it’s worth the while or needs additional input; “This specific problem amounts to a whopping 36% of failure because it leads to low demand of product.”
They also help hire teams that would oversee the development of the startup and also run aggressive product marketing to launch and keep the product in the faces of pending users or buyers even as it finds its way to the arms of the first benefactors of the solution the product offers.
Venture building is also like a two sharped edged sword, its role extends to the duties of co–founders. When we talk about the issue of co–founders, it may be extremely challenging for them to work under pressure having not done it before. Venture builders in this case double as co–founders who will act as guide all through the way.
The most important, Startups also need investors who will ease their financial burden and help realize their demanding goals and that is why most of them chase after investors with reckless abandon while less attention is paid to
the costumers. It’s quite tricky to maintain the balance but Venture builders help to even out the disparity by helping to get the necessary funding.
Right from your ideation to your eventual launch, venture builders work with you all the way, ensuring you don’t burn your fingers or join the already long list of failed startups. It is a no–brainer to opt for venture builders when you decide to launch your own business in this cruel and competitive market.
