The growth and popularity of startups has never been greater, with a record number 700 unicorns ($1 Billion market cap), in the first half of 2021 alone. Yet the failure rate of startups continues to hover at 90% including a 20% failure rate in year 1.
Fortune magazine published a study on startup failures that identified the Top 20 Reasons as stated by the founders. “No Market Need” ranked as the Top Reason for failure at 42%, followed by “Lack of Funding” at 29%, and “Poor Marketing” as the 8th reason for failure at 17%. Taking a closer look, 8 of the 10 reasons for failure are marketing related, with “Ran Out of Cash” and “Not the Right Team” the only non-marketing reasons for failure in the Top 10.
With this background, our “thesis” will go forth to prove that Ineffective Marketing is likely the major contributor to startup failure, and the corollary, Effective Marketing is a major contributor to startup success. Furthermore, each of the reasons for failure can be addressed by 9 Marketing Disciplines for Startup Success, along with multiple marketing sub-disciplines.
This “Startup Marketing Guide” will detail these marketing disciplines, and provide a variety of valuable resources for startups of all types.
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