Based on data reported by Startup Genome, 90% of startups fail miserably, that only 1.5% of startups or around 15% of those that survive succeed in generating an exit of $50 million or more in the top eight startup ecosystems in the US. Data from the US Bureau of Labor Statistics shows that nearly 20% of new businesses fail within their first year. In this article, we will analyze more deeply the current startup problems and how startup studios can help founders and owners face current challenges.
Startup Problem Nowadays
The challenges faced by startups are not easy. Data from statistics reveals that poor timing is 21%, disharmony among teams is 21%, burnout is 16% and product is not user friendly is 9% and even lack of financing is the biggest challenge in the statistics at 47% and running out of cash is 44%.
Financial problems often become obstacles for startups. He even closed his business because of cost problems. Excessive resources make it necessary to overpay experienced employees. Not to mention the marketing budget which is getting bigger day by day.
High Spending on Resources
Startup studio is here to overcome resource problems experienced by startups in developing digital products up to launching them on the market. Not only that, startup studios provide significant advantages for founders and business owners, in providing experienced resources without having to work on a large scale which is increasing day by day.
There is no need to search or even carry out massive recruitment, just hire employees with a low number. Founders and owners can save costs in hiring resources. Can be used for marketing costs and focus on business development.
Startup Studio Solutions
But not only that, Startup Studio provides various kinds of solutions for your startup. Among them:
- Access to resources: A startup studio provides founders with the necessary tools, and talent to launch and grow their businesses.
- Reduced risk: A startup studio shares the risk and reward with the founders and helps them overcome the common challenges and pitfalls of starting a business.
- Validation of ideas for long-term: apart from that, startup studio provides services in building your minimum viable product structure so that your product idea can be sustainable in the long term
- Faster execution: A startup studio leverages its experience and expertise to accelerate the development and launch of the product.
- Support and maintenance: A startup studio offers ongoing guidance and advice to the founders for their digital product.
Key Takeaway: Startup studio is one of best alternative for develop digital product
Answering all the challenges that occur in startups today is not easy. However, startup studios can ease the burden of costs that must be borne by founders and business owners for resources for developing their digital products. Apart from that, finding experienced resources is not easy for early stage startups, but startup studios can facilitate startups in providing experienced resources, young talent and solid technical skills. It can be your foundation in creating quality digital products, and on time when launching them to the market. Learn more about startup studios.