Why do startups fail? Do we need advice for starting a business?

Most of the times, I was often asked the same question & then I take time to answer the question after discussing what really happened or what went wrong that cause a good business to run into losses. Well! Surprisingly we unlocked some key reasons here.

The very common mistake noted by me was that several entrepreneurs starting a business had no idea where they were going or what they goal was? In simple words, there was no proper business plan.

Another pt noticed was most of the entrepreneurs had nil knowledge on the business selected by them. One needs to start a business after doing some market research or doing self learning on the product or service.

Most important of all, none of those startups were hiring a mentor or an advisor who would have suggested which business idea was suited the most. You may ask here - Do we need advice for starting a business? The answer is surely YES.

Also seen was most of them want to play safe, take less risk, invest less money in promotional activities or even willing to take lot of FREE Advices from a lot of consultants. Let me tell you these free advices will always give a negative impact on the business since one does not pay a serious attention when it’s Free.

Tips for entrepreneurs will be to hire a marketing consultant /Mentor/advisor at the time of a start-up who can guide you properly so that there is room for minor errors that can be corrected later by them.

Why to hire a marketing consultant for your business

In the competitive market, every product or service newly launched faced challenges & some of them win or some need a survival strategy to prevent themselves from closing down. Why does this happen? The key reasons sometimes point out to implementing the wrong marketing strategies at the wrong time.

When it comes to sales, the best sales tips and advice comes from hiring a marketing consultant who can view your business from the external as well internal aspect and create some key marketing strategies that form the foundation of an effective marketing plan.

Hiring a marketing consultant means they work out giving their best marketing advice with the available resources and capital that you might have at that point.Often, several business start ups spend high on marketing activities aggressively in the start as a part of a competitive strategy. This does not give proper results & to control costs they decide to squeeze the marketing budget later which again is a bad move for business growth.

These problems can be taken care earlier by investing a small amount and hiring a marketing consultant to give sales advice and tips on giving a proper marketing strategy keeping cost reduction factor in mind.

SMC has really worked out well when it comes to solve business problems faced by start ups or entrepreneurs who are planning to start a business. A one hour consultation with them will make you decide that it’s time to hire a marketing consultant for your business expansion & sustainability.