It is remarkable that the highly recognized start-up accelerator, The Y Combinator which only has an acceptance rate of 1-3% for companies that apply. And amongst the few selected, there is a less than a 1-in-10 chance of a big success according to the Business Insider. Alongside the seemingly ever-present headache that is the current economic depression, the task of developing a successful modern start-up company seems increasingly daunting and statistically improbable.
Yet, I remain optimistic in the future as I have had the luxury of watching the growth of my sister’s small start-up company Ecologik have highlighted the issues that surround being a start-up company. A key aspect for not only her business but others as well is becoming in tune with the solution to a customer’s problem or wish instead of developing A solution to a perceived problem. Establishing a structured and targeted product or service based off of customer’s inputs instead of entirely off impulse can mitigate many aspects that otherwise are factors behind start-up failures.

Link provided by ycombinator