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3 Reasons Startups Fail and How They Can Do Better

 

There are a few reasons why some startups succeed while others fail. Ilya Pozin speaks to the top three he’s seen:

  1. Overbuilding: More features doesn’t automatically mean more clients.
  2. Failure to market: Lead generation and understanding your target market is arguably more important than having better features than your competitors.
  3. A focus on disruption: Build a product focused on behaviors people already do, rather than wholsale innovation.

Watch the video to find out more about how features alone won’t make your startup successful.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

Image Credit: CC by Dimitris Papazimouris

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About the author: Ilya Pozin

Ilya Pozin is an entrepreneur, writer and investor. He is the founder of Ciplex, a digital marketing agency, and a columnist for Inc., Forbes and LinkedIn. In 2012, Inc. Magazine recognized Ilya as a 30 Under 30 Entrepreneur. In 2013, LinkedIn selected Ilya as one of 100 influencers, along with the likes of Richard Branson, Barack Obama, Tony Robbins and Mark Cuban.

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