How to create a business that can survive the test of time

We all have heard this numerous times that most startups fail within their first three years. Depending on various reasons such as team, market-product clash, etc. As internet marketing is booming. So, more and more people are coming to kick-start their e-commerce venture. According to stats, almost 3-4 tech startups start every day. In 2019, the failure rate of startups was 90 percent. As per the research conducted, 21.5 startups fail in the first year, 30 in the second year, 50 in the fifth year, and 70 in the tenth year. Shocking, isn't it? Well, this is the shocking scenario of startups. Numerous startups start every year but most of them fail to survive. Thinking of ways for the survival of your startup in the troat-cutting competition? Look no further, as, in this guide, I am going to give you all a few lessons that will surely help your startup survive and thrive. So, let's begin: Join the digital marketing course in Delhi and learn online marketing to sky-rocket your business sales.

CREATE A PRODUCT THAT IS MARKET READY

One of the major things. You cannot survive in the market if your product is not the right fit for the market. Make sure that your product is the right fit for the market that means it needs to cater to the needs of your targeted audiences. Check that your product solves the issues faced by your targeted audiences. Test that your product Is reliable for the market. Resist the temptation of being everything to everyone. Cater to the needs of one of two groups of targeted audiences where your product is in high demand. BOOST YOUR LEAD GENERATION

First thing first, no startup can survive in the market without revenue. You need a steady flow of income always. As said in the previous section as well. Never try to be everything to everybody. Before jumping to lead generation, identify your potential buyers first, their needs, interests, and pain points. This is one of the important factors to get successful in lead generation. A few other handy tips are -Create high-quality, content every time. No shortcut to this. Utilize both organic and paid social mediaLevrage remarketing AdsAttend networking events/ never miss a chance to connect and communicate with people face-to-face

BUILD A LASTING/HARDWORKING TEAM

A team that can match your vision and passion for the business. As a founder, you must understand that it is next to impossible for you to handle every task on your own. You need to have a dedicated and hardworking team that can manage different tasks. A team that shares your passion and vision for work. Here are a few handy tips for maintaining an excellent relationship at your workspace -Be open to discussions. When it comes to decision making, Welcome others' opinions as well. Spend time with your colleagues. It will give you a chance of understanding your colleagues betterTrust others with your work Schedule everything before time.

My name is Rupa Chaks. I am a content writer and social media strategist. I love writing :)