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Whаt аrе sоmе stаrtuр idеаs thаt frеquеntly fаil?

Discussion in 'Starting Your Startup' started by Jack Benoit, Mar 19, 2016.

  1. Jack Benoit

    Jack Benoit Entrepreneur

    Whаt аrе sоmе stаrtuр idеаs thаt frеquеntly fаil?
    Аlmоst аnything sеlling tесhnоlоgy intо rеstаurаnts will likеly fаil - раrtiсulаrly if it sоlvеs а рrоblеm fоrdinеrsаs орроsеd tооwnеrs(оr mаnаgеrs).

    Mоst реорlе whо stаrt suсh а соmраny аrе аttеmрting tо "sсrаtсh thеir оwn itсh," whiсh mеаns thеy hаvе limitеd еxреriеnсе with аnd mоrе thаn а fеw орiniоns аbоut whаt it tаkеs tо run а rеstаurаnt.

    Соuрlе this with а соmрlеtе lасk оf соnсерt аbоut thе sсоре оf sеlling tо rеstаurаnts - hоw mаny sаlеsреорlе yоu truly nееd, bесаusе sаlеs tо rеstаurаnts аrе hеаvily skеwеd tоwаrd in-реrsоn rеlаtiоnshiр building - аnd yоu gеt а rесiре fоr disаstеr (by whiсh I mеаn slоw, аgоnizing fаilurе).

    Whаt dо yоu think аbоut it?

  2. jewelraz

    jewelraz Entrepreneur

    Not sure about your question actually. Are you trying to ask about restaurant business or like any kind of general business? From my experience I can tell, depending only on the stock market is quite risky. And if you don't have a knowledge about something but you want to start a business and like to gain from it very quickly, that's quite risky too.
  3. remnant

    remnant Entrepreneur

    It is a bit tricky to categorize start up ideas that usually fail on the basis of type. Someone can fail on a start up idea today and actually succeed at it in a different time frame. Or somebody else succeeds in the same idea depending on his oh her experience, skills and talents. Other factors like the marketing mix matters.
  4. Nancy

    Nancy Entrepreneur

    I don't think you can say that any specific start-up idea will succeed or fail. There are too many factors that work into the final success. The right idea, passion, funds, etc. can make or break a start-up. If it were that easy we would all be Donald Trumps and have no failures :D
  5. rz3300

    rz3300 Entrepreneur

    Well like other users have said I am not sure that it is specific to a certain type of business or industry or anything like that, but the one that just comes to mind immediately is the restaurant industry, but I think that is because those are just way more visible for most people than other types of businesses. They are on the street corners and we see them being build and changes and all of that, and a lot of them do not last long.
  6. amiller280

    amiller280 Entrepreneur

    I have seen a lot of different businesses in my area come and go. Thrift stores, second hand shops, non franchise jewelry stores, any type of business where you're competing with franchises will struggle. The only small businesses I see thrive are services with great customer satisfaction. The place I work during the day is a prime example, only 15 employees but owner nets around 50k a month.
  7. Nancy

    Nancy Entrepreneur

    I agree @amiller280. Excellent customer service is so rare these days that a business can go far on that alone!

    I also have watched businesses come and go over the years. I think one of the big reasons (besides poor customer service) is poor planning. If a business comes and goes in less than a year, they obviously didn't plan well. It can take years to build sales enough to support a business. If you go in hoping to start making money right away, you will most likely fail. Many also do not properly price their product. Or try to undercut competitors. In the long run, it doesn't work and brings the whole industry down.

    It is true you can usually only provide two of these in business: price, quality, service, turnaround. Each one affects the other. My contract embroidery business was successful mostly based on quality and customer service. My price was higher and I wasn't always the quickest, but you could be assured you would get an outstanding final product with excellent customer service.
  8. jona

    jona Entrepreneur

    I agree with you but I was reading the other day about how restaurants are going to start to go fully automated in places like California with the minimum wage increase. Up until the 15$ hour increase it was simply cheaper to hire somebody to serve food, with the spike in labor cost all of the sudden technology options are looking feasible and very attractive to restaurant owners, specially fast food franchise types. There is going to be a huge emergent market there, you can see it as a business opportunity or as something to be worried about since a lot of people are going to lose their jobs.
  9. Danem

    Danem Entrepreneur

    Probably the ideas which are already done thousands of times or that are too broad. For example, if you want to start up a business in the fitness industry, you have to make it unique because there are thousands of people who are making it big with their amazing products. How will you compete? The niche thing too... I remember when I was very young I started a blog about everything. Yes, everything. It got nowhere because I tried to cover every topic on planet earth, not focusing on anything and not drawing a crowd. There were already well-known successful blogs who had done the same thing as me but better too.

    One other tip I heard recently was: think about the money aspect from the get-go if that is your plan. You may have a passion or idea for something, but if you want to make it profitable, think about that from the start and model your idea around that, not the other way around.
  10. Corazon

    Corazon Entrepreneur

    My take on this thread is anything that joins the bandwagon has a higher probability to fail. Sometime in the 1980s, the porridge eatery boomed. In almost every corner of the main road, you would find a porridge eatery - porridge is a native meal in the Philippines. But in a year's time, the porridge eateries closed shop one by one and what's left were the original with big capital. All the imitators were waylaid.

    Another example was the "litson manok" which means roasted chicken. Like the porridge eateries, vendors sprouted almost everywhere until the time came for the small ones to close shop and only 2 big brands remain - Baliwag and Andok.

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