In 2019, the failure rate of startups was around 90%. Research concludes 21.5% of startups fail in the first year, 30% in the second year, 50% in the fifth year, and 70% in their 10th year.
In this post I am offering a chance to people who are interested to build a team/company in the hope of increasing their chances.
If you haven’t noticed already, what you are about to enter is an extremely difficult market. You think you have a great idea but even if you have done your market research properly and still think that nobody else has thought of this idea before, the chances are that someone else somewhere in the world is working on something similar right now as you read this, however the good news is that you do not need to be first to come on top. I am sure you’ve already heard a story or two about a company which is doing far better than anybody expected while launching years later than their competitors, so I won’t bore you with those stories. I want to get to the point…
Why do 90% of start ups fail? Well, you ought to do your own research and find out. From my research I’ve come to this; I need to build a good team. Let me rephrase that, I need to build an incredible team to even have a chance. Let me make this even more clear, if you are working on your own you are a tiny fish in an ocean and you risk getting swallowed by a bigger fish at any moment.
The reason that I am making this VERY short is because I am not trying to sell anybody anything. I need people who have reached to the same conclusion on their own. I could sit here and write stories about why companies fail or I could present to you lots of data from other companies and start ups or tell you what investors look for etc but that is not my job. You have to do your own research, but if we are on the same page, this is what we are going to do…
Week 1 - Create a team
I’m looking to create a team of 3 developers or more and I welcome anybody who is interested regardless of their background and the level of skilfulness on bubble. The only requirements are; having good discipline and the ability to deliver on the deadlines you set yourself.
By the end of the week we will have a zoom meeting for a brief introduction.
Week 2 - Voting for ideas
Everybody will briefly present their business idea/plan to the team. Team members could show interest and ask for more info. By the end of the week, we will finally vote on which idea/business to work on as a team first, therefore speeding up the development process. This also allows the company to have a great team at ready for any future obstacles that might rise prior or after launch.
Week 3 - Brainstorming and task allocation
Once we have shaken off all doubts and answered all questions, we should have with us all those who are still interested and we will start brainstorming and start allocating tasks to team members. Team members will be asked to determine a deadline for themselves for the task in hand.
Week 4 - Commence work
Work load will be equally divided so that we can have a zoom meeting at the end of each deadlines/ milestone.
I have a team of people who will be working on other important aspects of the business in parallel to us (the tech team), e.g. branding, market research and business plan.
With a good team, we should be able to deliver speedily and start work on the other ideas. The most important thing is speed and by having multiple businesses in the pipeline we are increasing our chances in this market. Everybody will get a chance to build their idea and lead.
I know I left out a lot of important stuff but I’ve left them for us to discus so if you are interested drop me a private message and please do NOT message me if you are looking for paid work. I repeat I am NOT interested in hiring developers.