The startup ecosystem is at an all-time high. Nearly 83% of India’s workforce wants to give entrepreneurship a try. The rise of the entrepreneurial spirit has paved the way for a number of incubators, accelerators, and startup studios, each of which has a different way of operating and solving a problem. All these institutes have a common goal: to help aspiring founders build their startup ideas.
Every founder dreams of launching their idea and getting product-market fit in the shortest time possible. There is no one-size-fits-all answer to how to get started and which route is best for the founder. Instead, it depends entirely upon the founder.
Startups are tough. More than 90% fail and only about 10% succeed in this crowded market. Everyone wants to build a successful startup, but failing and learning from mistakes are crucial steps in building a successful venture.
We at Favcy Venture Builders have interacted with more than thousands of founders and, over the years, have figured out that these are some of the common mistakes that every first-time founder makes: