What % start-ups fail ?
90% of start-ups fail... yeah, it's hard to accept it. Information start-ups are the ones that tend to fail the most. Construction and manufacturing have both really little success rates.
What can be reason for this ?
Many start-ups fail due to:
· lack of experience in terms of goods and industry
· little experience from the team
· and personal problems
Successful start-ups have a:
· well-defined market
· have disruptive ideas
· the founders are persistent
· take advantage of mentors
In fact, with advent of the 4th Industrial Revolution and Ai – Big Analysis and Deep Learning, start-ups and old school successful Companies need to up their game. It is both exciting and scary to see the number of start-ups (from Israel) with game and market changing Ai driven Tech. It does not mean that all these great Ai Companies will succeed. They still need to a have well defined Market and access to these Markets (Contacts and Networks) , and Mentors, Advisors and a Non-executive Director (NED).
Having the correct choice of a NED with deep business and financial experience brings extra Governance , Financial Validation, Business/ Product Validation and access to Tech and Markets (Customers, Contacts). In my case, I can assist both Start-ups and SME’s with these as a NED with a special focus on Israel and the UK.
In addition, I have set up a Scale up Tool Kit. Note it is not called Start up Toolkit, as the intention is to scale up, refine, and improve the offering.
Jeffrey Levine is a Veteran (survivor) of Israel Hitech back from the .com days of about 20 years ago, when he was the CFO and small part founder of STI Ventures, a Venture Fund whose Portfolio invested in a number of high flying Investments and Investors.
He is a Modern finance leader, who is more than a financial reporter, with a strong track record involving data analysis, strategic decision making and leading digital transformation across businesses.
Today, Jeffrey is sharing his experience and helping SME’s to scale up, with this in mind, he has set up Scale up Tool Kit as a platform of leading Professionals, Experts, and Funders to provide the essential components that Companies need:
· Fresh Ideas and energy
· Product Validation and enhancement
· Digital Marketing/Bus Development
· Technology (Ai Experts)
· Business & Financial Plan/Accounting Services
· Funding / create Wealth
To find out more how we can help your business succeed and grow, please reach out to me at firstname.lastname@example.org.