Why Startups Fail: Insights from LETA Capital's Alexander Chachava | The Garage #12
This article is a summary of a YouTube video "Почему 90 % стартапов закрываются? Гость эфира - Александр Чачава, LETA Capital/The Garage #12." by Startup Kotiki
TLDR Startups can fail due to various reasons, but success can be achieved by understanding customer needs, constantly testing hypotheses, finding new approaches, and prioritizing ethical relationships with entrepreneurs and investors.
Practical experience and finding new approaches are key to success in business, competition is crucial, investors look for committed founders, and successful founders are brave, focused, and willing to work tirelessly without giving up.
Joy, a California cleaning company, went bankrupt due to a flawed business model and excessive investment, highlighting the importance of a sustainable economy unit in startups.
Startups may exaggerate their success, so investors should be cautious and look for warning signs before investing.
Prioritize ethical relationships with entrepreneurs and avoid fraudulent activities, while considering cultural differences and the importance of transparency in deal-making.
Not all consumers and investors are aware of high profit margins, it's important to have a plan when facing failure and focus on successful startups.
Travel is important for personal growth and exploration, while the next speaker will talk about avoiding failed startups.