No matter how good the idea is or how much money startups have, they have to first think of survival before they entertain thoughts of success; it’s not that easy to float a company today, simply because the competition is fierce and most spheres of business are saturated and overcrowded. The difference between startups who go on to become established and successful companies and those who sink without a trace in a few months or a year or two is that the former are prepared; the latter are over-confident and clueless about the problems that lie ahead. In general, startups survive the roughest of patches and go on to become successes if they:

Have a plan

It takes many ideas to merge into one and form a startup, and very often, more than one person is involved. While the initial responsibilities are planned and delegated carefully, many startups don’t have …