Failure in the startup space is unfortunately a very real possibility. Forbes this year reported that 90% of startups fail. This is a rising proportion – as more and more enter the startup space, chance of survival is further reduced.
For an entrepreneur to succeed in the face of high competition and a volatile market it is important to understand these fears and remain connected to the market. A startup needs to recognize their unique offering, to identify the demand for this opportunity, and to be an expert in their industry in touch with changing market trends. This will better position a leader for successes.