Challenges Faced by a Product based Startup and How they Can be Overcome?
Bhavook Chitkara1, Syed Mohd Jamal Mahmood2
1Bhavook Chitkara, Research Scholar, School of Management, GD Goenka University, Sohna Road, Gurugram (Haryana), India.
2Dr. Syed Mohd Jamal Mahmood, Assistant Professor, School of Management, GD Goenka University, Sohna Road, Gurugram (Haryana), India.
Manuscript received on 26 November 2019 | Revised Manuscript received on 07 December 2019 | Manuscript Published on 16 December 2019 | PP: 504-507 | Volume-8 Issue-3S3 November 2019 | Retrieval Number: C10891183S319/2019©BEIESP | DOI: 10.35940/ijrte.C1089.1183S319
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: In the last five years, India has become a land of startups. It stands third in the world. It has given lot of employ-ment to the youth, but the bitter truth is that 90% of startups get failed. There always remain the collective contribu-tion of founders, employees and investors in a product based startup. A lot of study on the failure of operations, marketing, sales, and delivery has been already done but very less work has been done on the study of the failure of product development. This paper explores the crucial product development parameters that can lead to the failure of the product based startup/organisation. The evolution cycle of a product based startup can be considered in three stages: • Starting Phase • Stability Phase • Growth Phase Symptoms which can occur in the above three phases were discussed and the issues which appear were analysed.
Keywords: Startups, Product Based Startup, Startup Failure.
Scope of the Article: Social Sciences