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Shiv Bharankar
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Medial • 6m
Why Having a Great Product Doesn’t Guarantee Startup Success: Having an awesome product isn't enough for startup success. 80% of startups fail in the first 18 months due to poor market fit, marketing, or customer engagement. For example, An American company Juicero, they raised $120 million, but its high-tech juicer failed because people could squeeze juice by hand. 42% of startups fail due to a lack of market need. In initial days Spotify almost failed until it nailed smart partnerships and user experience. As per research 67% of consumers say great customer service matters in purchases, and many startups struggle with marketing despite knowing its importance. Success isn't just a good product, it’s about marketing, customer feedback, and adaptability. A great product needs the right strategy to succeed. It’s not just what you create, but how you connect, market, and evolve with your audience.
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