Business research conducted by Startup Genome has provided some startling facts. Apparently 90% of startups in the USA end in failure. China does equally badly. The figure stands at 80% in India, a country that has seen high level entrepreneurial activity over the last decade. Australia has among the best numbers with success rate pegged at nearly fifty percent. The study has attributed certain major reasons for failure. One of them is that there may be no need for the product in the market. Secondly, these startups do not recognize the importance of cash and run of it. The corporate strategy has several gaps. What really kills them though is severe competition. On the contrary, successful startups include strong vision and long term planning. The founders have a belief and skills to outwit competition. They develop a core team. Invariably such firms have the right balance between product quality and marketing.

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