Having a successful Startup Business is the biggest goal of those who dream of getting involved in the technology and innovation industry. A good idea and hard work are essential, but not enough. Planning is necessary for your business to grow, prosper, and most importantly survive in the midst of competition.

The Obstacles to a successful start

According to a study by the Dom Cabral Foundation in India, 25% of startups in India are less than four years old before their first year and a half.

For For example, in Mexico, 75% of new businesses close after two years in the market, according to the Center for the Development of Business Competitiveness. According to Startup India, the failure rate reaches 85%.

The Don Cabral Foundation study shows three factors that explain this phenomenon:

- Number of partners: for each new partner who works full time in the company, the risk of interruption of the startup increases by 1.24. In other words, the more responsible the founders are for the startup, the greater the risk of failure.

- Investment volume: the study shows that startups that have the capital to cover operating costs for a period of 2 months to a year are 3.2 times more likely to disappear than companies that have enough capital to cover costs Cover costs for a month.

- Place of installation: if the company is in an accelerator or an incubator, the risk of disappearance is 3.45 times less than that of startups installed in their own office or in a rented space.

3 Tips For a Good Start

1. Recognize your strengths and weaknesses

Don't think that one good idea is enough for a successful startup in India. Take self-assessments and identify your strengths and weaknesses. “Finding professional mentors or speaking with more experienced entrepreneurs helps a lot to those who are just starting to develop a project,” says the incubation coordinator of Porto Digital.

2. Find incubators and accelerators

The ideal institutions to support those who want to develop their startups are incubators or accelerators that exist precisely for this purpose: to transform incubated or accelerated companies into successful startups.

3. A good speech for investors

Specialized companies and groups of investors organize events for beginners almost every month to present their proposal (oral presentation of their idea). Bet on a short and direct presentation of your Business Startup idea, product or business.

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