According to a report from CBInsights, more than 70% of tech startups usually fail after 20 months of successfully raising enough funds to sail ahead swiftly. Well, when it comes to the reasons it can be no market need, low cash flow, pricing/cost issues, lack of suitable business model, market competition, and so on.
But the question is, is there any possible solution to reduce this percentage or will this scenario continue at an increased pace?
Well, although there are many solutions that can minimize this failure percentage, the best among them is building a minimum viable product (MVP).
You might be wondering what this MVP is all about, how it can prevent startups from failure, how it can help to maintain finances, what is the cost to develop an MVP, where to find the best MVP software development services, and so on.
Well, this blog will let you know all you are looking for.
