Most Startups Fail by Year 5
Startups are very risky. According to recent government research, most startups fail by year 5. I therefore strongly recommend that you purchase startup insurance.
Source: 2010, US Bureau of Labor Statistics, US Census Link
Insure against 12 of These 13 Failures
Here is an edited list of the top 13 causes of failure as reported in a recent issue of Forbes:
- A Small Idea
- Wrong Market
- No Go-To-Market-Strategy
- No Focus
- Lack of Flexibility
- No Passion
- Bad Leadership
- Unmotivated Team
- No Mentors
- No Revenue Model
- Running out of Capital
- No Roadmap
- Bad Luck
Call Your Broker Now
Startup insurance provides complete protection for all of these contingencies except #4 No Focus. So call your broker today and ask for some competitive quotes. (ED. NOTE: Startup insurance is not available in all 50 states) Alternatively, you can reduce your risk of startup failure by joining an accelerator, like say…… Flashstarts.
