Latest news with #businessfailure
Entrepreneur
3 days ago
- Business
- Entrepreneur
What Went Wrong?
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media. Starting a business is no small feat. For every success story, there's another venture that stumbles along the way. The road to entrepreneurial triumph is often paved with hard lessons. Failure is just part of the process. But it doesn't have to be the end. Understanding why startups fail, and learning from it, is what makes the difference between a business that thrives and one that fizzles out. I have seen many start ups take off, but many others have also fallen flat. See below for the 9 biggest reasons start ups fail (and how to avoid them): 1. Lack of a real problem to solve Far too often, Rohan explains, he sees founders dive in without truly understanding whether their idea solves a genuine problem. If there's no real need, no pain point to address, your business is dead in the water before it even begins. Top tip: Focus on solving a problem that people actually care about. Do your research and talk to potential customers early on to make sure your solution fits a real need. 2. Founders fall out or lack the grit to push through Start ups are exciting in the beginning, but as reality hits, founders often realise they're not as compatible as they thought. When the inevitable hurdles come up, it's easy for co-founders to clash, or worse, fall out altogether. If you can't work through the tough times together, the business won't last. Top tip: Before you dive in with a co-founder, spend time working together on small projects or go on a challenging road trip to see how you handle stress and disagreements. 3. Poor communication of vision Your vision will evolve, and that's fine. The problem is when your team - investors included - aren't on the same page. If everyone's not clear on why you're doing what you're doing, things can quickly go off track. A shared vision keeps you all aligned, especially when you're hit by market reality. Top tip: Communicate your vision clearly and consistently, and make sure your team is fully onboard. It's not just about telling them; it's about making sure they understand and believe in it too. 4. Misjudging market demand One of the hardest things to get right is the market demand. Startups can often misjudge the demand for their product, either by thinking there's a huge market when it's too niche, or worse, failing to see the potential of a small market that explodes. Startups often fail because they miscalculate how big or small the opportunity really is. Top tip: Be adaptable. Start small, listen to early customers, and be willing to pivot as you learn more about what the market really wants. 5. Scaling too soon Scaling for the sake of scaling is one of the most dangerous mistakes you can make. If you're scaling a business before you've figured out how to do it sustainably, you'll waste time and money - and lose momentum. Top tip: Prove your business model first. Don't scale until you have a proven process that works and can be replicated without bleeding resources. 6. Getting the timing wrong Timing isn't just about jumping on a trend. It's about being prepared when the market is ready. A truly visionary startup can succeed by getting in early, but if you're solving an immediate problem, you'll know when the timing is right. You can't force the market to adopt your solution if the time hasn't come. Top tip: Focus on the problem you're solving and stay ready. When the market is ready, you'll be prepared to ride the wave. 7. Ignoring customer feedback Many startups get bogged down trying to please everyone, only to find that when they act on customer feedback, it's not what their customers actually wanted. You need to learn how to sift through the noise and find the signal. Top tip: Listen, but don't take every piece of feedback at face value. Understand your customers' needs, but trust your vision for the product. 8. Believing that passion and ideas are enough Too many entrepreneurs believe that passion and a good idea are enough, but the reality is, they aren't even close to being enough. It's about grit, determination, and the willingness to put in the work, even when it's not glamorous. Top tip: Passion is important, but resilience is what will carry you through the tough times. If you're not willing to put in the hard work, maybe entrepreneurship isn't for you. 9. Weak team dynamics If you don't have a strong, complementary team, your start up is at risk. There are plenty of founders who start with enthusiasm but can't handle the inevitable problems, because they lack the right balance of skills and personalities. Your team dynamics are crucial. Top tip: Choose co-founders carefully. Test your working relationship before diving in. A team that can handle pressure together is more likely to succeed. My top 3 tips for first-time founders 1. Sell, sell, sell Get used to selling, whether it's your idea or your product. Until you get paying customers, you're just a dreamer. Keep testing your idea with real people and adapt based on their reactions. 2. Adapt quickly Things rarely go as planned. Adapt fast, especially in the early stages. The sooner you pivot based on what you learn, the better. Don't be too attached to your initial idea. 3. Surround yourself with the right people Founders are like athletes - they need the right team. Having a strong team that complements your skills and fills the gaps can be the difference between success and failure.
Daily Mail
12-05-2025
- Business
- Daily Mail
Steven Gerrard suffers major blow as friend's water company CLOSES with eye-watering debt - after Liverpool icon and investors 'pumped in £2.5m'
Steven Gerrard is licking his wounds after a business he invested in heavily was forced to close in mountains of debt. The Liverpool legend and fellow investors reportedly pumped £2.5million into his friend's water company, as per the Sun. But now Angel Revive alkaline water has been forced to close after years of financial struggles and accounts on Companies House show a £542,220 debt. Almost £400,000 of that is in unpaid rent. Gerrard held a 25 per cent stake in the firm and has reportedly had £50,000 of his money back, but is still missing lots. He was also a brand ambassador. Angel Revive was founded in 2016 by Mark Doyle and Gerrard has previously called it 'the superhero of waters in purity, nutrition and healthiness'. The water was sourced from a spring in rural Lancashire and its website said it 'naturally contains minerals and electrolytes that promote wellness for the body', helping to maintain an 'optimum pH balance'. However, the business is now listed as 'permanently closed' on Google and the link to its website on Instagram leads to a 'domain misconfigured' page. Angel Revive did manage to amass a following of more than 34,000 users on Instagram but has not posted since December 2021. The company was reported to be in around £1m of debt in October 2020. The water originated from an aquifier in Mawdesley, Lancashire, with reports going back to the 1700s of its healing benefits. Doyle previously said: 'Our spring and its water have been the subject of numerous reports and commentary since Elizabethan times as to the curative benefits of water. 'However we do not claim our water can heal you - the belief is your own. 'For unknown reasons the spring had been covered over and buried for over a century until its history and benefits were brought to the attention of the current landowner.' Doyle had initially come across the natural spring in his back garden and brought in an excavator to find the source, before extracting and bottling it for sale. He is reportedly shortlisted for the Rangers job, having won the title there in 2020-21 Gerrard will be on the hunt for his next opoportunity having left Saudi Arabian side Al-Ettifaq in January. He is one of four former Premier League bosses who have been shortlisted for the Rangers job, according to The Telegraph. Philippe Clement was sacked in February and Barry Ferguson has been in interim charge. Gerrard led Rangers to the Scottish Premiership title in 2020-21, winning 32 of 28 league games, going unbeaten, and only conceding 13 goals in the process. However, since then, his stints with Aston Villa and Al-Ettifaq have been more of a mixed bag.
The Sun
11-05-2025
- Business
- The Sun
Blow to Steven Gerrard as he loses eye-watering sum of money after pal's business closes with huge debts
FOOTIE manager Steven Gerrard has pulled the plug on a company flogging 'healthy' water. The former Liverpool midfielder and England captain pumped £371,524 into Angel Revive, which was run by a friend. But he has lost most of his money along with fellow investors who ploughed £2.5million into the business, which has closed with huge debts. Gerrard owns a 25 per cent stake. The 44-year-old has had £50,000 of his investment back, but remains massively out of pocket. The company has debts of £542,220, including £398,353 in unpaid rent. Paperwork said: 'The company has negative reserves and is dependent on continued financial support of directors and shareholders.' Gerrard is among contenders for the managerial job at his Scottish giants Rangers, who he managed previously for three years from 2018, winning the Scottish Premiership in 2021. The Gers are seeking a permanent manager after sacking Philippe Clement in February, with former midfielder Barry Ferguson being placed in temporary charge since. Gerrard left Ibrox to take over as Aston Villa manager but was sacked in October 2022 after winning just two of 12 games. He then took up the manager's job at Saudi outfit Al-Ettifaq, but left by mutual consent in January
