Entrepreneurs fail

The entrepreneur’s journey is a challenging one. On the journey, one will understand their own strengths and weaknesses. It identifies the opportunities and the threats and challenges. The entrepreneur who counters the threats and challenges becomes successful, and those who neglect will progress towards closing down the enterprise, venture, and startup. There are over 100 unicorns present in India today. The number will increase in forth coming months and years. Why are startups failing, even after generating a lot of funds and getting support from the best of the incubators, accelerators, venture capitalists, and ecosystems? The answer to this question is entrepreneurship's failure to accommodate enough funds in need of the hour. The manager, a consultant entrepreneur, adopts the right business model for the organization. The type of business model that another unicorn succeeds in might fail in your organization. Competition is both the strength and the weakness of any organization, as well as a threat to it. Failure to measure the impact of competition in time will impact revenue generation. Startups depend on others' inventories, like stores, shops, factories for production, sales, and warehouse purposes, with zero inventory strategy, which will backfire in the long run. Hence, the entrepreneur must invest in inventory for self-sustenance. The other mistakes that startups make and will make in the future are excessive offers and low margin profit. Both are not good. Any excess is harmful to the company. The offers must not burden us, and profit margins must not look heavy on customers. Startups are typically made up of people from various backgrounds, and the human tendency of jealousy, hatred, bad business practices, and corrupt accounting practices create controversies when the issue of trust arises. And these controversies are capable of bringing down the mightiest one. The intention is always to win or lose. However, opponents should not succeed in the strategy. For example, Satyam. Entrepreneurs of startups fail to plan the labor force. They over hire, pay more, offer freebies, and fewer work hours than necessary when the company’s finances start to go down. The first thing that companies do is lay off workers to save money. The startups' high operational costs, low adoption to the changing environment, failed marketing sales strategy, lacunas in market research, wrong timing of the market, legal and regulatory challenges, improper revenue model, and poor quality service are some of the reasons for the failure of the startups. Mr. Milind Sharma and Mr. Navneet Singh founded The PepperTap-Grocery and Hyperlocal in 2014. PepperTap, a grocery delivery service, was shut down in April 2016. The company raised more than $51.2 million over four rounds of funding. Due to cash burn and a zero inventory hold, PepperTap had to cancel orders due to unpredictable supply. Mr. Akash Agarwal and Mr. Ebrahim Akbari founded the DoodhWala-Hyperlocal and Milk Delivery was founded in 2015. A subscription-based service model was adopted where milk, dairy products, groceries, and other essentials are delivered to consumers' doorsteps. The startup faced intense competition from Big Basket and Gofers.