Why is Your Startup Failing and How To Make it Successful?
Writer: Safa
Did you know 90% of business startups fail worldwide within first five years? This high failure rate is common across almost every industry. It leads to the wastage of all the invested capital and resources-time, inventories and of course, money. You put in all your money and give the highest level of time and seeing it all absolutely shatter is still less of a loss than your abilities being wasted in it. Perhaps the business you chose for yourself did not align with the business your abilities are made for.
If someone expects a fish to fly in the sky and it not being able to, well then that’s a wrong expectation not a wrong outcome. Entirely their problem, not fish’s headache.
To learn more: How Aptitude Tests Help You Find the Right Career Path?
Lately, the business market has been growing for every industry due to many factors like population increase, technology advancements and better literacy rate. This seems like a great opportunity for young minds to earn money. Then why the startups usually fail and how to make them succeed?
Why do 90% startups fail?
Startup failure is a huge upset and disappointment for the entrepreneurs. However, there are many factors that can become the reason for such an outcome.
Your lack of finance and lack of market research is usually a cause of setback for the business. Not knowing about your target market after results in unsuitable sales techniques.
Fact is, your potential market can be found within you.
Your innate abilities and strengths lead you to your respective market. Besides, when you know these strengths, you have a chance to beneficially utilize it. Similarly, not knowing your weaknesses can be equally destructive as no pre-hand avoidance can be made.
Having an understanding of these strengths and weaknesses is often termed as knowing yourself. It is a vast term that includes your abilities, your bounce-back potential, your resilience with accepting facts and reality being a core description of it.
Every business training program ever will enlighten young entrepreneurs by first telling them about the basic ‘qualities of an entrepreneur’. Without these qualities entrepreneurs not only waste their money but government and national resources as well.
And this, is a huge loss, the real loss.
All entrepreneurs gather here: 656 Universities and Colleges are offering BBA Business Administration in Pakistan
Am I a failure?
Am I what people tell me I am aka failure? Actually no. At least that’s what Eduvision aptitude assessment’s results and feedbacks says.
To find your career through Eduvision's Aptitude Assessment, click here:i
Usually what happens is, our environment and interactions undermine our naturally existing abilities. What people say about us and what we experience makes us lose our real spirit gradually. Have you ever noticed how you indulge in others’ opinions about you to an extent that you forget Allah has given you so many abilities and you feel more like a failure than a success that you innately are.
Aptitude assessment basically digs out your capabilities and lets you know about them. Moreover, being a human you have some flaws within you. It points out those too (the real ones, not what others tell you!) so that you can work on them and change them into your strengths.
So can you manage all your reserved inventory by attracting new clients or will you waste it all only because you are not good at marketing? Aptitude assessment tells you what your strong side is and how you can make your weak-points your plus-points.
How is success linked to aptitude assessment?
“Zara nam ho tou ye mitti bohat zar-khez hai saqi” if you want a precise answer. If you know your true potential, you are worth the heights you dream of.
Must Read; 8 Life Lessons we can learn from Iqbals Shaheen
Just like a booklet of any other machinery, ‘aptitude assessment’ is a personalized guidebook for any person who desires success.
The only difference between you and a washing machine is that companies usually send the booklet along with the machine yet you, have to get up and demand for it. Fair enough!
From this precise booklet, in this situation-entrepreneurs, learn how good at risk-taking they actually are. It aids them to break down complex concepts of uncertainty into digestible bits of courage and belief in one’s self. A good aptitude assessment will help entrepreneurs recognize their values and skills- soft and hard both.
Also read: WHAT ARE SKILLS: SOFT SKILLS Vs. HARD SKILLS
Dear future entrepreneur, are your negotiating skills good enough to seek loans from banks? The more you look into it, the more you will realize how beneficial this expert analysis of yourself really is!
Benefits of aptitude assessment to entrepreneurs
We can compile all benefits and assistance for entrepreneurs from this aptitude assessment in some given points down here.
1. Expert guidance
An aptitude assessment will grasp every possible gem in you, put it down in a report and inform the individual, in this case-the potential entrepreneur-about all the tools and abilities they are equipped with.
Next, it will show you a long-term path of success and failure based on you. Whatever industry these entrepreneurs choose, basic line of qualities required is more or less the same. It will let you know about all these; are you good at tables, graphs or maps, this will be told by aptitude assessment. Now, an entrepreneur would know if they themselves can do those SWOT and PEST analysis.
2. Sets a Direction of Goal and Purpose
The whole purpose of an aptitude assessment is career planning. By knowing the values, the entrepreneur will know if they need to go for a fragrance line or a publication press.
If you know you are patient enough, you can go for a business that is extremely profitable but requires years of consistent hard work with a compromising present. However, if you want immediate money with low risk, the counsellor, might suggest you a home-based café or bakery.
What you truly want from the startup and what your real goal of the business would be, can be understood by your assessment report.
3. Self-confidence is key
Don’t you think you can drive better when the passenger beside appreciates your steering wheel control and civic sense?
Similarly, entrepreneurs drive the car of their startup better when they know that the control they have on themselves is one of the keys to their success. Aptitude assessment not only pumps you with the necessary information about yourself but tracks down your road too with a communicative session with the counsellor.
Entrepreneurial aptitude test enables introspection into your nerve-processing, emotions and behaviors that directly link to enhanced business outcomes.
Why don't you look at 8 Career Lessons We Learnt from Kabhi Mein, Kabhi Tum
If I sum it all for you, there is strong correlation between aptitude assessment and business startup success. It is a deeper insight to your yays and nays, what you actually are and what you can become.
