Why 90% of Brands Fail as Startups (Despite Having an Excellent Product) - Faryal Raza Bhatti

Throughout my experience in marketing and sales, working with various industries such as IT/Tech, Entertainment, Law, E-commerce, Health and Wellness, and Coaching, I've witnessed numerous companies failing. Here are some primary reasons why:

1. Not Marketing and Sales ReadyMany startups want to generate sales but lack the know-how. They hire inexperienced marketing teams who don't understand which marketing platforms suit their product. For instance, I recently met someone in the IT space who was using organic social media marketing (Facebook and Instagram) for custom-built software – a mismatch!

2. Focus on Building a 100% ProductStartups often fail due to inadequate budgeting. They spend all their funds on resources and building a final product, neglecting marketing and sales. The most viable option today is to market and launch a Minimum Viable Product (MVP), generate sales, and continually improve the product.

3. No Unique Selling Point (USP)Startups fail when they don't have a USP, making them indistinguishable from others. It's like having identical candies on display, asking customers to choose one. Consider successful leaders – what sets your brand apart?

Well, I have a bunch for marketing tips to share, so feel free to follow Faryal Raza Bhatti ??for more startup marketing tips. Remember what I always say, Be Different, Sell Better. Good luck :)