You might have heard that there are many startups that were closed only within months of operation. According to a study, about 9 out of 10 startups fail. These companies didn’t fail in a single day. There were signs which you probably ignored. Here are some signs that tell that your company is going in the wrong direction.
Operation cost is higher than the revenue
Many companies shut down as they cannot maintain their servers anymore. In such case, may be the customers like your product and they want to buy it, but your company cannot afford to keep it running. You have to add money to the company from somewhere else.
No early adopters
The company fails to make what the user wants. When you don’t have customers for your products you start to panic. Your product should be able to attract even a small group of people. Otherwise, it’s a sign that the company will fail.
Poor marketing or advertising
You will have to take your product out for everyone to see. If you don’t do this on time, then you will fail to get the people’s attention. Along with a great product, outstanding marketing approach is needed to sell a product. So, poor marketing is an indicator that your company is not moving in the right direction.
These early signs are actually noticeable. You should take necessary steps to stop your company from going in the wrong direction by acting upon the signs.