Startups Success or Failure Successful Austrian Startups Runtastic

Startups – Success or Failure

Successful Austrian Startups Runtastic Shpock • Tracking sports activities • Founded in 2009 • Sold in 2015 for 239 Mio $ • 70 Mio Users • 100 Employees • „Shop in your pocket“ • Founded in 2012 • Worth 200 Mio $ • 10 Mio Users

Successful worldwide Startups Snapchat Dropbox • Image messaging • Founded in 2011 • 20 languages • 100 Mio daily active users • 9000 Snaps per second • Worth 16 Billion $ • Online file saving • Founded in 2007 • 5 languages • 50 Million Users • 175 countries • Worth 10 Billion $

How many startups fail? • 9 out of 10 startups fail • Mostly because there is no place on the market

Reasons for Failure

Bad businessplan • Not just for convincing inverstors • Make you sure your company will run • Correct it by experts

Lack of equity capital • Do not forget about yourself • You need to pay your bills • You cannot spend all money on your business

No Plan B • No guarantee your company will succeed • Customers do not pay on time or unforeseen expenditures • Prepare for financial shortfalls

Lack in marketing • Marketing does not be equated with advertising • Create a concept which present your company • Marketresearch

Lack in know-how • No one can know everything • Deficits in the economic field, accounting, human resources • Seek external help

When your company is failing • If the ship is sinking, meaning your bussiness is going under, there very well may be nothing you can do about it • You should start by getting some facts and taking a hard look at the little things you may be overlooking.

Reasons for startup success • Fundings • The money • The big idea • The team • Timing

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