Starting business with spouse : A challenging but great decision


Starting up a business with your spouse can be a real tough challenge in terms of maintaining family and finance. It can also bring great results to you if both of you are ready to take the challenge and risks. But if it does not work out well, then you will result in spoiling your business and marriage altogether. Here we will tell you about the pros and cons and the simple ways which you can follow to maintain your professional and personal lives together.

Pros and cons of business with spouse:

The pros:

• Your spouse is the person whom you can trust the most, which is applicable in terms of business and finances as well.
• You both are aware of the strengths and weaknesses of your counterpart, which makes it easy for you to divide and categories your work accordingly.
• When you and your business partner (your spouse in this case) share a family, it is easier for you both to manage your schedules and work timings.

However, there are some drawbacks of such a start-up as well:

• Firstly, if you start your business with your spouse, the finance of your household gets dependant on a single source. If the business didn’t work up well, you can end up with a financial crisis.
• Also, it is more difficult to manage the dominance of one partner both at work and at home. One of the either spouses is always the bossier one.

men women

Here we are providing you with some ways to escape the potential headaches of managing a business with your spouse:

1. Arrange for some backup emergency funds : When you are thinking of starting up a business with your spouse, do not involve all of your funds in the business. If it doesn’t work out well then you can end up in a financial crisis. To avoid such a situation, always have a backup.

2. Understand your personalities : Some people find it more effective while working in the morning, and some find night peace best to work. Also, some people can work better while interacting with some more people; on the other hand, some people need peace to work. Understand your personalities and divide your working times accordingly. By doing this, you can best explore your productivity and have positive results.

3. Defining roles : After understanding your personalities, it is equally important to divide your works and roles in the office accordingly. Divide the schedules according to your best working times.

4. Have time for yourself, separately : When you work with your spouse, you have to spend all the time together, while at home or in office. Find out time for yourself and your own hobbies, interests and friends. Take out time apart from each other so that both of you get the required space and freedom.

5. Understand your potential to take risks : When both of you indulge in the same business, you are more likely to have a financial crisis. So discuss and understand your capabilities of managing and tolerating risks in the business.

6. Explore your humour : When you are working for the whole day, you need to take your life lightly and have a sense of humour. A serious working environment tends to be less productive and increases the chances of tiffs between you and your partner.

7. Avoid arguments and cold war : When you people are not in talking terms to each other for a particular period of time, this leads to a huge mismanagement of the office work and can cost you in losing clients of your company.

8. Manage your own lives : When you put the burden of managing the home and office both on your wife, it makes her feel more frustrated towards all sorts of work. Being a husband, try to manage your works on your own, and also allow your wife to take decisions at home and office both. This will make her less frustrated and more productive for the work.

9. Arrange for separate workplaces : Do not have a common working place or office. Initially it sounds good to hear that the work places will be closer and will help in communicating better, but later on it results in a heap of arguments and nothing else. A small common working place for both of you can make you feel claustrophobic to the environment in some time. Set different working places or cabins so that you have the independence of handling your piece of work in your own way, and can reach up to the other person only when required.

10. Listen to each other: While having some discussions, do not try to overpower your partner (spouse) on some argument or decision. Have a proper conversation where both of you can put up your own points of view and can solve out the problem accordingly.

11. Vision for your company : Before setting up the business, discuss and figure out the expectations that you have from your company. A difference in opinions for the future of the company can lead to unavoidable and unnecessary arguments. Have a clear outline of how to go along the journey of managing your company before starting working together.

12. Be truthful to yourself : Before starting up a business with your spouse, ask yourself that if he/she weren’t your spouse, would you still like to work with him/her as your business partner? Sort out the question in your mind, and compare the qualities of your spouse with the ones that you wish to have in your business partner.

13. Set rules from beginning : Set your own areas of work, areas of interferences and non interferences. Decide everything from your work timings to decisions to family management. Later, just abide by the set rules to avoid clashes and arguments. Do not interfere with each other’s decisions or space.

14. Keep home and business separate : It has a simple rule- do not talk about your family or home or relatives while at work, and do not talk about work or office while you are at home. When in office, invest yourself completely in working, keeping the household topics aside, and when at home, enjoy your family time and forget about the business deals and discussions.

15. Handling disagreements : If you both have disagreements regarding a particular thing, try to resolve it swiftly, before the disagreement moves towards turning into arguments. Try to understand each other’s point and solve the problem in a mutual way.

Handling business with your spouse can be simplified by following these set of rules. If you can manage to get out of the cons, you are just left with the huge benefits of working with your spouse.

Infographic: Starting a Business with Your Spouse : Challenge and Opportunity

Home-Based Working Ideas for Women which are Quite Practical to Follow

man woman

Being a housewife can be a tough job, while managing all of the household works. However, housewives can start some home-based works and earn some extra money for themselves. There are various types or categories of jobs one can opt for. Some of them are listed here:

Woman Working On Laptop

1. Online business: Women can work from home by opting for some online businesses like-

Blogger: If you are interested in writing, then you can add up to your earning by writing blogs for your own website or for some other company. People are always looking for information over the internet.
Advertising:  You can also add some advertisements to your blog for some companies and get paid for that. You can take contracts from some companies on the basis of the traffic on your site or blog.
Consulting: You can also try for consultations regarding your field of knowledge or interest.
E-book writer: If you are good enough with the writing skills, you can post some e-book regarding the topic of your knowledge and expertise.
Forum moderator: You can also work as the manager of some website’s forum by removing spammers, allowing or blocking comments, starting new conversations and resolving conflicts.
Internet researcher:  Every writer and company needs precise information and is willing to pay for your research and hard work.
Network system administrator: You can use your technical skills to work for companies by database administration, networking administration and implementations.

woman art

2. Creative business: You can use your creativity in various fields for getting a business opportunity online-

Artist: If you are good at drawing or painting, you can get creative projects from various websites which can earn you some money.
Author:  You can try writing on various subjects like child-care, cooking or beauty care and start your own way of writing.
Editor: Editors are important for all the websites, who can edit or fine tune their blogs and information by using your grammatical and vocabulary skills.
Event planner: They have the job to arrange for the catering, locations, accommodations, decorations and everything for some particular event like marriage anniversary, birthday celebrations marriages and similar events.
Handmade invitation creator: Nowadays, everyone is looking for new and creative style of invitations. You can use your creativity by designing such cards and selling it on your personal website or to your family or friends.
Interior designing: Use your creativity for designing the interiors of others, suiting their demands and needs. You can work independently or can assist someone else for the purpose.
Music instructor: Use your knowledge and skills on music by providing instructions and trainings for the same.

woman taking photo

3. Interest-based: Use your interest and skill to earn income from various sources like:

Cake baker: If you have a passion for baking, then use your innovative ways to bake special cakes for events like birthdays, marriage celebrations, anniversary, etc.
Child care: In today’s scenario, where both the parents are working, such services are required on a huge scale. You can earn some money by taking care of such children.
Culinary consultant: If cooking is your field of interest, then you can take advice from various professional chefs by contacting them and starting consultation regarding their dishes and preparations.
Food creator: Use your cooking skills to try out new dishes and recipes and you can share them on some cookery websites or with some professional chefs.
Independent tour guide: If you have a passion for visiting new cities and places, alongwith the famous restaurants and tourist places, you can guide people with the same and earn money against it.
Online boutique owner: If you are interested in knowing about the latest fashions and trends, then you can try for opening an online boutique by using your own designs and selling them.
Pet groomer: If you love pets then this is the job for you! You can assist the pet owners by informing them about the various ways in which they can groom the pets better.
Personal trainer: Your interest in health and exercise can help you in turning into a personal trainer for health conscious people with guiding them for the proper diet and workout suggestions.

Working Girl

4. Part-time jobs:  You can try out for some jobs that are for some time-being, which allows you to continue with your daily schedule for the rest of the days. Some such jobs are:

Birthday party planner: Plan birthday parties for kids and children allowing the parents to enjoy the special day carefree.
Financial planner: If you are strong with the financial basics, then you can help individuals with their important financial plans like retirement, investments, stock purchasing, etc.
Medical transcriptionist: The work of a medical transcriptionist is to write down the recorded messages by some medical professional into words.
House sitter: You can take care of someone’s house and pets when they are not at home and want their house to be looked after.
Professional organiser: Work for organising someone’s office and house by making it a more productive and organised environment.
Software developer: If you have good coding skills, you can work for different companies by creating programmes and applications for them from your home.


5. Marketing jobs: Use your marketing skills in carrying out various marketing jobs like:

Affiliate manager: Many publishers need assistance by organising campaigns, creating calendar for marketing and for interaction with affiliates.
Celebrity gifting outreach: Many small business owners will want their product to be seen with some celebrities for marketing and flourishing purpose. Help them by gifting the products to celebrities and earn money from them.
Copywriting: It is the term given to the persuasion of words to present them better for the promotions and marketing of various products or companies. You can go for this if you have good manipulation and persuasion skills.
Direct sales: This is the direct sale of products for some companies, which provide you with a start-up kit and you need to sell their products through your family, friends or relatives initially, and expanding your circle lately.

51 Social Media Tools for Business

Social Media Tools

Today in the global marketplace every business, whether small or large, must have to use the social media for marketing communications related to their product or services. Here we are trying to provide a list of 51 social media tools especially useful for small business.

Facebook Tools

Today Facebook is one of the most popular social Media. You can get likes, shares and tags for your posts.

1. Like Analyzer: This tool ( will give you complete details of the likes you have received as compared to those of competitors. It also indicates your ranking in the industry as well as of the rivals.

2. Fan Page karma: This tool ( gives you valid and vital data about increase in number of visitors, comments or feedback along with Karma which means weighted engagement value.  Additionally Fan Karma integrates data from Twitter & YouTube which may support your visual presentations or communications.

3. Face book custom Audiences: With the help of this tool you can customize your audience and address the communication to select the target customers.

Social Media Analytics Tools

4. Rival IQ: Marketers must know what the competitors are doing and this wonderful tool helps you finding everything you want about the chosen brands. This tool gives you mirror image of competitors status on Facebook, Twitter, google+, Linked in or SEO. You can avail a free trial of 14 days for your convenience. Website:

5. Klout: This special tool provides a ready reckoner of popularity index of varied social profiles with an indicative marking from 1 to 100 along with comparative level of your profile. You can also keep a track of movement of such scores.

Visual Content Tools

6. Infogram: Here we can develop impressive infographics directly on the spreadsheets of Infogram. Special facilitators like design templates or full design editor etc. are ready to use for you.

7. Piktochart: You can make your data attractive, presentable & impressive with this free to try tool. The built in editor and themes make your task easy. Website:

8. Visually: If you are looking for professional help for adding shine & glitter to your presentations, that too at a reasonable price, you ought to visit “Visually” marketplace. Here you can get expert help for videos, presentations, info-graphics, interactive etc.

9. Canva: Highly user friendly and free (except the onsite photos) this tool is a wonderful resource for both beginners & amateurs who want to do graphic designing. Full of templates like Pinterest the Canva makes it highly interesting for the professionals.

10. Compfight: Compfight is a commonly used tool on many blogs. Here you get access to a huge collection of images and pictures for different uses in your communications. Website:

11. Be Funky: Enjoy your work with this extremely easy to use tool. Equipped with everything we need for image editing like cropping, scaling, filters or text etc. this tool enables the user to put proper visual content on the social sites. Website:

Social Media Monitoring Tools

12. Mention: If you want to know how many people/clients or customers mentioned/posted about your products or services, any time or anywhere in the web, this tool will prove extremely useful.

13. Nutshell Mail: Here you can gather all the data update on your email account/s periodically to suit your needs. Such information may further be translated into your weekly report etc. Website:

14. KeyHole: Ever wondered how you can get the record of responses received for your comments, hashtags, punches or quotes on the Facebook, Instgram or Twitter? Use this tool to optimize your popularity. Website:

15. Social mention: It assesses the reaction of your post by feelings like passion, sentiment, reach and strength. Website:

Social Media Content Tools

16. News.Me: In partnership with “Digg” this channel gets you the prominent messages received in your different social accounts. You can immediately respond to customer/clients queries, attend to complaints or expedite the orders etc saving valuable time. Website:

17. Feedly: With the help of Feedy you can not only keep in touch with all the blogs or social sites but also pick up most relevant & important posts gathered on the site.

18. Pocket: This tool provides the user a special facility to collect the information and read or analyze the same at a convenient time later. Website:

19. Paper.Li: Imagine the advantage of producing your own news paper full of industry related happening and circulate amongst your followers for great leverage. Website:

20. Swayy: One can get a chance to share interesting content on the social media, connect with Twitter or Facebook, and Swavy helps you with finding what the people want. Website:

21. Pie: Pie comes with a browser extension where you can gather stories across different sites and share them with the desired audience. Website:

22. Bottlenose: Solar Solo: This free version of Bottlenose helps in accessing all the data related to your brand/s particularly from LinkedIn and provides good platform for sharing information.

WordPress Plugins

23. Digg Digg: If you wish to spread your posts to Face Book, Twitter, Buffer or other 20 sites you can use this wonderful floating bar at Digg digg plugin. Website:

24. Flare: Created by Digital Telepathy this tool uses Filament plugin which helps in bringing together all your social buttons as and when you wish and utilize. Website:

25. Ivy: Yet another creation of Digital Telepathy, this tool is for your clients, supporters or customers who can use the Filament plugin to highlight your products on different media channels. Website:

26. “Pin It” Button for Images:  This is free word press plugin for enabling direct shares to Pinterest, quite useful for blogs.

Twitter Tools

27. Follower Wonk:  This is a popular tool for analyzing and optimizing your accounts at Twitter Buffer.

28. Social Rank: You can find your followers in three different categories namely Best Followers, Most Engaged and Most Valuable with the help of this tool. Website:

29. Manage Flitter:   With the help of this tool you can easily manage the actual or virtual followers for better results. Website:

30. Must Be Present: This Twitter tool helps you for setting a targeted response time to your posts. Website:

31. Tweriod: Here you can get to know what specific time slaughts are when you receive maximum exposure on different media channels. Website:

32. Tweepi: Tweepi helps you in segregating your audiences into responsive or non responsive so that you can take optimum advantage on Twitter or other sites. Website:

33. Tweet4Me: When you sign up you are better equipped for quick quality posts on Twitter as & when you want.

34. You can grow, organize and manage your networks with the help of this tool. Website:

35. Twtrland: Keep updated about Facebook & Instagram with special tool of live count and advanced search to find favorable followers. Website:

36. Need Tagger: You can find out such Twitter users who are looking for your product with the help of this tool.

37. Twitter Spy: Here you can find out the most liked tweets and acknowledge those supporters help with a thank you.

38. Twitter feed: As the name suggests you can directly post your feeds on Facebook, Twitter or Linkedin with its help.

39. Tweet Reach: This tool gets you the data as to how far your tweets have reached. Website:

40. Twazz Up: If you want to know what is happening to your name at your back, this is the source. Website:

41. Topsy: You can access posts, contacts, pictures, videos with this strong search engine on Twitter.

Miscellaneous Tools

42. FiveHundredPlus: This tool is useful for the LinkedIn contacts. Contacts can be placed in various categories like weekly, monthly, quarterly or annual reminders, to stay in touch with those contacts. Website:

43. Rapportive:  This app provides information about your gmail accounts, their social accounts and employment. Website:

44. Bitly:  This app is helpful in shortening of the URL links, which is required in cases of posting on twitter (because of the 140 character word limit).

45. Rev:  It is a transcriptional and translational service, which helps you to convert audio, on English files into the format type or the language you need. Website:

46. ShareRoot Board Cover Creator:  This app allows you to create images that can be used as covers for different Pinterest boards. Website:

47. Jelly:  This is an app for iOS and android, in which you can ask questions using locations, photos or friends, and the best known people for the place or person answer you. Website:

48. SteadyDemand’s Google+ Page Audit: This page helps you in finding out what’s working on you google+ account and what’s not. Website:

49. Powtoon: This service helps you create or edit videos, and direct uploading to YouTube.

50. CardMunch:  In this service, you take a picture of a business card, and it stores the regarding information in your contacts and you can find the contact on LinkedIn. Website:

51. IFTTT:  It is a multi-utility app that can do a range of things from posting your instagram photos on twitter, to messaging you tomorrow’s weather. Website:

How to Use Social Media Sites to Promote Small Business?

how to use social media

Planning a small startup is definitely a matter of excitement for everyone who wants to be engaged with a new earning source. You might have been thinking about various ways of promoting and marketing your business. Well, one of the best and cheapest ways to promote your small business is the use of social media but for this, you should know how to use social media. In the modern world technology, it is very important for your business to be known by people. Not engaging in conversation online with people means not only just losing your clients but also moving your business towards silence.

What is social media marketing?

There are various social media sites on the internet where you can talk to relevant stakeholders and search your customers thoroughly. Use of social media for marketing is called as social media marketing. Here your leading goal will be to set up marketing communications at right places and branding your products in an impressive manner. This is also called as online marketing where you need covering up product reviews, product descriptions, video marketing tools and high-quality images of your products or services. Check out the stepwise guideline mentioned below to know the best way of promoting your business online-

Determination of platform

The best thing you can do to put the first step is searching the most feasible and best working social media platforms where you can find your clients and customers. Keeping this special fact in mind will help you to save your time and invest all your energy in the right direction. You need to make a list of the most popular social media sites and building profiles of your business in all those social media platforms. Remember, more the number of social media sites you are registered with, more you will be known by relevant stakeholders. If you have no idea regarding marketing strategy and tools, you can talk to business professionals who can tell you more about key performance indicators. Create a page about your business everywhere you can on the internet.

Transform your employees to social media manager

Tell your employees also to create separate pages on social networking sites talking about your business. Management of multiple profiles in social media can be a daunting task for you. In order to simplify your task, just transform your employees into social media marketers. Take a meeting with them and distribute tasks to them. You can tell each of them to handle a profile on every social media site. You can also ask your employees to try a free version of marketing sites which offer services to promote your business. If this suits you and you get the good outcome from this strategy, you can move on to the paid version.

Plan a goal

Plan a goal

Determination of goals and objective is the most important thing you need to do for putting your step forward towards social media marketing. Planning a goal, location and size of the business is something that will leave the positive influence on your small business. In order to understand the process of marketing and promotion on social media sites, you should search the social media sites well where you are registered. Try to discover the marketing supports and ways of boosting promotion they offer.

Create your own website

According to conclusions of market research, businesses bearing online presence in the form of a promotional or official website are more prone to achieve success quickly than those who are not having their websites on the internet. This is why you should not ignore the idea of creating or getting designed your business’s website on the internet. This will help your customers to know more about you and your products/services. In this way, you will also be able to represent your business well in social media market. Moreover, you should plan a way to get feedback from customers on your services so that you can know the level of your success.

Elaboration of brand awareness

Brand awareness is something that elaborates the chances of social media marketing for the promotion of your business. Always take care of representing your business in an attractive manner. By displaying your products in the best manner through well-designed graphics and advertisements, you will be able to catch the attention of relevant stakeholders easily. Do everything you can for pulling the attention of your customers. For example, post links to your products’ site in your profiles on different social media sites. Get unique identity designed of your product and try as much as you can to regulate communication with target visitors.



Content is one among the marketing tools you can use for elaborating information about your business. You should understand that every online marketing trick requires awesome and high-quality content for promotion of products. The best you will represent your product, the chances of getting known by a number of customers will be increased. Blogging offers you an opportunity of sharing lots of information about your services.

Smart utilization of social media sites

Have you ever noticed that many popular social media sites are there that offer you lots of good ways to promote your business for free? Yes, you can talk about your products and services as much as you want in social media websites like Facebook, LinkedIn, Twitter, Pinterest etc. as per a market report, more than 60 percent budding businesses trust on impressive websites to speed up the growth of their business. As information becomes viral in social media platforms, it boosts sales and marketing of the brand. Apart from freeways of boosting product awareness through social media marketing, you can opt for paid marketing services.

Get access to your assets

The first step in the direction of utilizing social media in your business is setting up your access to assets. Talk to your business professional for determination of your assets and target customers. The regular update on your social media pages is important. You should work to find new friends and customers as well as continuing communication with them for positive impact.

Make records

Whatever you write in social media in favor of your product and every action you take towards promotion of your business, you should make records of each and everything in order to determine whether your actions are working positively or not. This will help you to find out whether you are moving towards right direction or not.

Offer useful information and rewards

If you are willing to get quick success in social media marketing, follow the rule of one in seven for marketing always. It means that on every seven posts you update in social media sites; only one post should talk about your services fully and based on direct marketing while other six posts should be written to offer useful information to customers. You can share valuable contents with them, plan questionnaire, surveys, and online contests to engage your friends and customers in marketing. If you are interested in getting quick success in social media marketing, you should follow one in seven rules. This golden rule will help you to set up a good image of your brand; you need nothing but just pairing your marketing with great content.  Share your expertise within your contents and ask questions; keep rewards for the first person who answer correctly.

So, are you ready now to establish the extensive reputation of your small business now through social media marketing online?

11 Reasons Why Startups Fail?

why startups fail

Learning from failure is always a good idea but it is better to know why startups fail earlier and what can make you face failure. If you are also planning for a startup or engaged in a startup which is not giving you positive results, you should pay attention over the list of reasons that can, unfortunately, fail your startup. The reason behind the failure of a startup can be anything; founder blames investors, CEOs, marketing tricks and R&D process behind failure but never goes to the real root of failure.  In order to avoid catastrophic failure of your startup, you should keep some leading reasons in mind that can work in this direction and avoid all those reasons while managing the startup.

1. Lack of unique solutions

Now it’s time to move on the conventionally known line that everything that can be invented has been invented already. Now, the world has become full of problems and every problem requires a unique and effective solution for it. Your startup should also be based on an effective solution for the problems you are dealing with.

2. Running out of finance

Whenever you plan a startup, be sure that you have or you will have enough inflow of finance for investment in resources. Lots of reasons are there that can make you run out of cash such as improper budget management, ineffective planning to raise funds and excess expenditure or even combination of these reasons.

3. Mere concepts

Many entrepreneurs are there who just lay down their startup on the basis of a concept and don’t work upon the complete product. This makes your planning weak. Definitely concepts, ideas and inventions can be impressive but consumers visit market only to buy the final product, not your concept.

4. Weak strategy

When you are going to start a business, never expect any miracle to happen. Your success lies in your strategy and it’s proper implementation on every level. Even small things can make the big difference for a successful business positively or negatively. Using low cost but good quality material, smart infrastructure and adequate availability of components will leave you as a successful entrepreneur.

5. Tough competition

The modern world revolves around lots of competition and passionate entrepreneurs. You should never evaluate the power of your competitors lesser and be ready to face them as they will not give up easily. Your startup will surely be challenged when other well-established businesses dealing with same solutions (your startup is engaged with) are highly successful.  You should be ready with your unique marketing and management tools to secure your unique place here.

reasons why startups fail

6. A wrong team

A team of founders and initial employees of a startup matters a lot regarding the success of a startup. If you are starting your venture with a wrong team, it may cause a big loss. If your team has no sense of urgency, time management, discipline, expertise in their fields, unfit functional values and not enough finance to invest, it’s a red flag that your startup is in danger.

7. Entertaining wrong advice

It is one of the biggest things to keep in mind as this is a major reason to work behind the failure of most of the startups. With the day by day increasing information sources, the quantity of advice is in hike but the quality of the same has been fallen. Entertaining bad pieces of advice from unqualified sources is also a reason for the failure of many startups.

8. Lack of communication with customers

Failure in the product of right product is among those leading reasons for which your startup fails to be recognized by customers. This happens due to lack of communication and feedback from customers. If you are unable to know what your customers want actually, how you will be able to produce something which is in demand. If you have not a compelling business plan, event, value proposition to make your buyers ready for the commitment of shopping your products, it will become hard for your startup to stand exclusively for a long time in the market.

9. Lack of market need

The market need for the product or service you are dealing with is the biggest demand for a successful startup. If you have not carried out good research in knowing the demand of the market and evaluating the level of demand for products you are manufacturing, it will not be possible to catch traffic of customers. Working on a product or service which is not actually in demand in the market is just wasting your time and money.

10. No business plan

Are you also among those entrepreneurs who are going to plan a startup without any log term business plan? If yes, beware! You are going towards the wrong direction; your customers will not be impressed at all if you will talk all about the present features of your products. They want you to be focused on future planning too so that they can have a base to bind a long term professional relationship with you. It is mandatory to tell your customers that where you want to take the company otherwise lack of required traction will result in failure of a startup.

11. Improper marketing

Marketing is the backbone of a business. Even a small mistake in marketing and promotion of your products can give rise to a big loss. Most of the entrepreneurs think that VCs are the whole market they have and they leave each and everything on them. Well, it is a wrong thinking that consumers will automatically love your products. You will have to represent before customers that why should they love your products and how they will be benefitted by investing their hard earned money in your products. It is important to explain the fundamental respect of selling you have planned.

So you might have understood now that if your startup fails, you should invest time to understand what went wrong. This kind of conclusion will help you to exclude the reasons of your failure next time. Plan your next venture by excluding all the flaws and lacks you had earlier in your failed startup. Be hopeful enough to achieve the success.