Launching a startup is challenging; keeping one alive and kicking is something of a mission impossible. Right from the start, if you listen to statistics, the chances of your startup surviving are 1:4. And that’s not all that surprising considering the competition you face –100 million startups are being created each year.
As one of the most popular domain names for startups (1.23%), we at .ME try to nurture our startup community by giving startups a head start with a memorable and meaningful domain name that helps them express their ME-selling proposition , promoting them on our side and providing them with advice on how to make their business model sustainable later on.
Our goal is to help them surpass the obstacles where most startups fail, such as
– Incompetence (46%) – emotional pricing, lack of planning, no knowledge of financing, etc.
– Lack of managerial experience (30%) – poor credit granting and inadequate borrowing practices.
– Taking advice from family and friends, making wrong decisions, pride and lack of market awareness.
Of course, not every industry is equally competitive and the new and innovative idea can carry you a long way. The following infographic looks at startups in different industries and gives an insight into how competitive they really are.