According to Bank of Ireland, 66% of all startups will fail in their first five years of operations. Also, the Website smallbiztrends.com indicates that just 4% of all startups will make it to the second year.
The main reason for such high numbers is lack of preparation and planning. Entrepreneurs and business owners are frequently reluctant in seeking outside help for essential areas like business development, cash flow management and lean processes.
The clear majority of Startups that end up succeeding, prove to have developed detailed business plans, studied them in detail and had been prepared to pitch it to all sorts of investors.
In a crowded market like the one we face today, selecting the right partners, makes all the difference when you search for success. Systematic exposure management is fundamental, to ensure you choose the right moment to pitch to the right investor.
Systematisation, streamlined processes and accurately following a solid business plan will attract investors.