Over Confidence has killed more startups than that by Tsunami. Though you have a great idea, it might not be the best. There are chances that your confidence is killing the idea. Humility is a great survivor skills in the skills. Companies like Foodmario and Tootle have prooven it. But some other companies which we don’t want to name here (and you already made a guess) were a fail, mostly because of their overconfidence which was seen as arrogance by the market. The key here is the Market is the king, show some love.
Ahead of Time
Many startups in Nepal tell one thing, the Market could not understand their product. Well, well, let me tell you a thing, you are ahead of the time. Or too ahead, that market is not ready for your company. Or, let’s make it more diplomatic (pun intended), you don’t know the market. You can never blame, as a startup, that market is not ready. On the other hand, it is your duty to make them market-ready. But more successful companies do not wait till the market is ready or don’t waste time making them market-ready. They rather make what market is ready for. In a Red Ocean Market, companies even wait till the other company
What does a Frog think? That the little well he lives on is the whole universe. There is a proverb in Nepali. Many startups have done nothing more than Validating this old proverb. Innovations that are not important or not feasible or too overrated are not needed for the market. For example, there is a company that sells Abacus in schools. Abacus is a great instrument (no harm intended) but it is good for a maths museum But not for schools to start using Abacus.