Dr. Manas Khatri has been recently nominated for International Brilliance Award 2021 for the title of Best Business Consultant of the Year. Manas Khatri is a glorifying name in the area of business consultancy helping startup businesses to establish and run business growth with his leading consultancy. He says, in India; many of us have a dream to become Entrepreneurs, but only a few are passionate about it. Some lack finance, support, or some have different reasons. If you’re a true dreamer and have that intense desire to be a successful entrepreneur, then nobody can stop you to achieve your goals.
Manas Khatri himself is one such passionate dreamer, who is additionally the founder and CEO of Digital Jugglers. He has been working in this industry for more than six years now and has helped over 300 Companies to establish their brand in the market. Your business or start-up idea causes you to be financially independent, and after reaching a certain standard you'll also Finance other Businesses or needy ones. You become a boss in matters of making decisions, making rules, creating the working environment, deciding working hours, ways of working, deadlines and everything.
Being a role model for the younger generation who is willing to have their own startup business he has a lot to guide. Manas says many startups have great plans but they somehow fail to execute well. Dr. Manas discussed the reasons why most of the startups fail and what they lack in them.
1. Lack of market demand:
No Market, no Cash: Many companies fail because they plan their product or service absolutely out of the market. In some cases, the product is rejected by the customers as it fails to fulfill their demand. So the market does not go well for such products.
2. Insufficient financial resources
Another important reason for the failure of startups is the lack of capital resources. In the growth phase, there is a lack of follow-up financing.
3. The wrong team
Another reliable killer for the startups is problems and inconsistencies within the panel. If the cooperation between the team members doesn't work, the startup doesn't stand an opportunity either.
4. Product mistimed:
Timing is what I think is to blame for our unfortunate fate more than anything else. If you release your product too early, users may write it off as not ok, and getting them back could also be more difficult if their first impression of you is negative. And if you release your product too late, you'll have missed your right set of circumstances within the market.
5. Pricing/Cost issues
Pricing is a secret art when it comes to startup success, and startup post-mortems highlight the challenge in pricing a product high enough to cover costs but low enough to bring in customers.
6. Flawed business model
Remaining wedded to one channel or failing to seek other ways to form money at scale left investors hesitant and founders unable to maximize any traction gained.
By overcoming these challenges, we can increase revenue or grow by enabling an efficient business analysis, solutions and also maintaining companies' agenda of targets.
Manas shares his views that while starting a business, one should have a crystal-clear vision. He suggests that the business person needs to be compassionate about his business ideas and focus on all the aspects of business branding to nurture growth. By avoiding the mentioned points, many businesses can come out of fear of failure at a very early stage.Dr. Manas Khatri says,” Challenges are everywhere, in every field and Entrepreneurship has its difficulties. But if you work with an optimistic attitude, then you’ll succeed, for sure. So, not only dream but also keep working constantly for them to make them a reality.“ You can connect with Dr. Manas Khatri on Facebook, Instagram and Twitter.