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3 Major Reasons Why 90% Of the Startups Fail Despite Having Great Ideas
There is no single path which guarantees success and on the other way, all the paths need not necessarily lead to failures. Success or failure – it lies in one’s sheer determination and passion. Among these failed startups, did you ever imagine how many of them had great ideas?
Well, yes, almost half of these failed startups had great ideas. Most of them had already accepted the fact that they had great ideas to start with, it just didn’t work out. Having a clever idea is just not enough to have a successful business. Great timing, intelligence and a hardworking team and a pinch of luck decide whether your business will stay for long or just collapse.
Here, we share the major reasons why most startups fail besides having great ideas.
1) When your idea lacks to serve the market need.
This is one of the major reasons why startups fail, most entrepreneurs have a brilliant idea to start off with, but it solves a problem which people don’t have at all. The market timing may be wrong. Your product could be ahead of the market by many years and your customers feel that they don’t need your product at that particular stage.
A careful survey of failed startups has determined that 42% of them have the product that the market no longer wants.
Solution: If you spend ample amount of time researching about your product, then have the same amount of time for analyzing whether your product is the right one for the right market.
2) When you run out of cash
This accounts for the second major reason for the failure of startups. Almost 29% of the startups fail because they run out of cash. Being your company’s founder you should understand how much money is left and whether that will carry your company to a milestone that could lead to successful financing.
Solution: Plan for the growth and the related cash outlays well in advance so that they do not come in as a surprise to you. Track your cash flow results every month to determine if your management is creating the type of cash flow your business needs.
3) When you are not surrounded by the right team
Good teams are formed when like-minded individuals with a common taste, preference, and attitude come together and work together for a common goal.
A popular American industrialist Henry Ford once said: “Coming together is a beginning, keeping together is progress and working together is a success.”
This statement of Henry Ford can very well highlight the importance of teamwork in the business.
A single discouraging team member can put your business at risk.
Solution: Choose your teammates wisely. Create a healthy competition among your teammates so that ultimately it is your organization which tastes success.
WhatsApp has rolled out a new “Member Tags” feature designed to make group management simpler and more organized. The update allows users to add short text labels next to their names in group chats such as Admin, Manager, Designer, or Coordinator helping others instantly identify roles and responsibilities. This feature is especially useful for large communities, workplaces, and project-based groups where multiple participants collaborate regularly.
With WhatsApp Member Tags, group members can customize labels that appear beside their names and within the participants list, providing better clarity during group conversations. The introduction of tags aims to cut down confusion in busy chats, making it easier to know who handles what. The feature is already rolling out for iOS users and is expected to reach Android devices soon as part of WhatsApp’s gradual global rollout. Users can add tags by simply going to the group info section, tapping their own name, and selecting “Add Member Tag.”
This update also benefits brands, creators, and businesses that rely on WhatsApp for communication and engagement. From marking support staff with titles like “Customer Support” or “Sales” to identifying moderators and event organizers in community groups, the feature brings a layer of professionalism to WhatsApp’s familiar interface. By enhancing group communication dynamics, the Member Tags feature strengthens WhatsApp’s position as one of the most efficient and business-friendly messaging platforms available today.
Google has introduced a new AI-powered feature for its Files by Google app, allowing users to easily interact with PDF documents. The “Ask about this PDF” feature, powered by Gemini, enables users to ask questions about the document’s content directly within the app.
How it Works
Access
The feature is available in the updated Files by Google app (version 16.0.5 and above). Users can download the latest version from the Google Play Store to access this functionality.
Functionality
Users can simply tap the “Ask about this PDF” button while viewing a document. This prompts the app to allow users to ask questions regarding the PDF content, such as:
- Summaries of sections
- Clarifications on specific paragraphs
- Details about tables and charts
AI Interaction
The app leverages the power of Gemini AI to provide accurate and informative answers based on the content of the PDF. This interaction enhances user engagement by making it easier to extract relevant information without manually scrolling through lengthy documents.
User-Friendly Experience
AI-generated responses are displayed as an overlay, enabling users to view both the original PDF and the AI-generated answers simultaneously. This feature streamlines the process of obtaining information from PDFs, making it particularly useful for students and professionals who frequently work with such documents.
Availability
Gemini Advanced Required
The “Ask about this PDF” feature is currently exclusive to users of Gemini Advanced, a subscription service that provides enhanced capabilities of Google’s AI tools.
Limited to Files by Google
At present, this feature is available only within the Files by Google app. However, there are expectations that similar functionalities may be integrated into other Google applications in the future, such as Google Drive.
Future Outlook
This new feature demonstrates Google’s commitment to integrating AI seamlessly into its products and services. By enhancing the user experience with innovative tools like “Ask about this PDF,” Google aims to improve productivity and accessibility for its users.
Expansion Plans
Given the positive reception of this feature, it is likely that Google will explore expanding Gemini’s capabilities across other platforms and applications, potentially offering similar functionalities for various document types and formats.
Conclusion
Google’s introduction of the “Ask about this PDF” feature in its Files by Google app marks a significant advancement in how users interact with digital documents. By leveraging Gemini AI, Google is not only enhancing productivity but also making information retrieval more efficient and user-friendly. As AI continues to evolve, features like these are expected to play a crucial role in transforming digital workflows across various sectors.
WhatsApp is revolutionizing how users handle voice messages with the introduction of its new Voice Note Transcription feature. Designed to cater to diverse user needs, this update ensures that you never miss out on voice messages, even in situations where listening isn’t an option—be it a noisy environment, an important meeting, or simply when audio isn’t convenient.
What Is Voice Note Transcription?
The Voice Note Transcription feature converts voice messages into text, allowing users to read the content instead of listening. This thoughtful solution addresses scenarios where audio playback may not be practical. With this addition, WhatsApp enhances communication efficiency, helping users stay connected regardless of their circumstances.
How Does It Work?
Using the transcription feature is straightforward:
- Enable the Feature: Navigate to Settings > Chats > Voice Message Transcripts to enable or disable the feature and select your preferred transcription language.
- Transcribing a Voice Note: Once activated, long-press the voice message you’ve received and tap ‘Transcribe’. The app will instantly generate a text version of the audio message for you to read at your convenience.
This process is handled entirely on your device, ensuring that the voice messages remain private. Neither WhatsApp nor external servers have access to the content, maintaining the platform’s commitment to privacy.
Privacy and Security
In line with WhatsApp’s dedication to user security, the transcription process is executed locally on the device. This ensures that your voice messages are never sent to external servers, and even WhatsApp itself cannot access them. By integrating this feature while preserving its robust end-to-end encryption, WhatsApp continues to prioritize user trust.
Key Privacy Features
- Local Processing: Transcripts are generated entirely on-device, ensuring that no one else—not even WhatsApp—can access your personal messages.
- End-to-End Encryption: The feature maintains WhatsApp’s strong privacy standards, ensuring that only the sender and recipient can access their voice messages.
Global Rollout and Language Support
The Voice Note Transcription feature is rolling out globally over the coming weeks. Initially, it supports selected languages such as English, Spanish, Portuguese, Russian, and Hindi. WhatsApp has confirmed plans to expand its language offerings soon, ensuring wider accessibility for users worldwide.
Why This Feature is a Game-Changer
This new addition addresses a common pain point for WhatsApp users: handling voice messages when audio playback isn’t feasible. Whether you’re in a crowded space, attending a quiet event, or dealing with a lengthy voice note, the transcription feature provides a convenient alternative.
Benefits of Voice Note Transcription
- Multitasking Convenience: Users can skim through voice messages while juggling other responsibilities without needing headphones.
- Accessibility Improvement: The feature enhances accessibility for individuals with hearing impairments or those who prefer text-based communication over audio.
- Enhanced Communication: Merging the personal touch of voice communication with the convenience of text allows for more flexible interactions.
Conclusion
By introducing the Voice Note Transcription feature, WhatsApp continues to innovate and enhance its platform. This tool exemplifies how technology can adapt to diverse user needs while maintaining security and privacy. Keep an eye on your app settings—this feature is rolling out soon and is set to make staying connected easier than ever. As WhatsApp expands its capabilities, users can look forward to a more personalized and efficient messaging experience that caters to their evolving communication preferences.
WhatsApp Rolls Out ‘Member Tags’ Feature to Simplify Group Roles and Management
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