Are startups overlooking new ways to grow?
There’s nothing worse than having someone tell you what to do, especially when you are a bold entrepreneur with a great idea ready to take over the world. However, as the tech scene continues to overflow with entrepreneurs creating startups which, let’s face it, often crash and burn, perhaps a little helping hand is needed.
According to the 2017 Kauffman Index of Startup Activity, 310 out of every 100,000 adults become new entrepreneurs in a given month. This figure translates into roughly 540,000 new business owners each month during the year, and that’s just in the US. With the amount of competition now pressing in, it is no wonder that 90% of startups are failing to make it big.
In order to reach a high level of success, it’s important for entrepreneurs to seek new measures to help their startups stand out amongst the ever-increasing pile of new ideas.
To compete in this market of fresh-on-the-scene startups, entrepreneurs should be considering enlisting professional help. In particular, strategy and engineering guidance, as this could quickly transform an average startup into a thriving company. Opening up to an outsiders perspective is always a good idea. A study led by Shikhar Ghosh from Harvard Business School really drives this point home, specifically his outline of the key reasons for business failure. These include:
- Lacking good mentorship
- Lacking general and domain-specific business knowledge: finance, operations, and marketing
- Unwillingness to see or listen
With the amount of work that comes with starting your own company, it can be hard to find time to focus on the specifics that would essentially bring growth. Does it not seem logical, therefore, for entrepreneurs to seek out professional support that can offer knowledge and the skills appropriate for their startup idea? Think of all the time and stress it would save.
Rokk3r Labs is one company trying to bridge the gap between these new startups and the hard-earned know-how of experienced professionals. The unique platform partners entrepreneurs with strategists, creatives and engineers to co-build and launch exponential companies. Executives at Rokk3r Labs are more than aware that developing an idea into a functioning startup requires going a step beyond; creating the best possible team.
Co-founder and CEO Nabyl Charania explains “At Rokk3r Labs, entrepreneurs can build their company within an ecosystem that has experience across the lifecycle of a company from an idea to execution without the risk of being on their own.”
With a respectable portfolio under their belts, Rokk3r Labs has helped over 39 ideas transform successfully into businesses.
In this day and age anyone can launch a startup, but with help from companies like Rokk3rLabs, entrepreneurs can have a fighting chance at making the leap from “just starting out” to “fast-tracked for growth”, and be able to keep up with the current era of technological advancement.