Setting up a business was never been easier, but you can spoil it very fast – and for various reasons. You have the funding, you have the ideas, and you have the zeal. But, none of this ensures your startup will survive in today’s ultra-competitive business environment.
Most of the startups (almost 50%) fail because there was no market demand (like Hailo – the on-demand taxi application) but what about the others? Here is the failure story of a social media app “YikYak” to make you understand that the industry buzz and a large user base don’t really ensure success. To be successful you also have to increase the revenues and profitability of your business alongside providing a phenomenal experience to your users from day one.
Let’s first put some spotlight on the brighter side of YikYak:
