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One question all start-ups must answer

Wednesday 22nd June 2016
Having seen many start-ups fizzle out, Expert Impact's Sophie Hobson writes for Startups.co.uk about why entrepreneurs are risking it all by forgetting to think long-term

One question all start-ups must answer

I’ve seen, worked with and talked to innumerable founders at the beginning of their journey.

Some have gone on to grow organisations turning over well in excess of £100m. Others blossomed for the first couple of years, full of passion and promise… then plateaued. Then fizzled out.

This shouldn’t come as a surprise to you. Half of UK start-ups fold within their first five years. (Don’t worry – it gets more optimistic from here on.)

So, why don’t more succeed? Well, you could cite all the normal suspects: running out of cash; market competition; a change in customer whims; economic downturns. And these spectres should never be underestimated. They always loom in the shadows of your achievements.

But many early-stage entrepreneurs are at risk from something much simpler…

Read the rest of this article on Startups.co.uk



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