The fintech industry has ignited and transformed the entire way money moves. With more than 12,000 fintech startups currently vying for their corner of the $112B market, the journey to go from a fledgling startup to a thriving business has never been more challenging.
In fact, it’s estimated that only 38% of all startups will make it past their fourth year – a sobering statistic. 82% cited cash flow problems as the reason, while 42% reported no market need, and 19% claimed they were simply outcompeted.
As dissimilar as these reasons may seem, they are all connected to one overarching theme: marketing. Or, more accurately, a lack of good marketing.
As an entrepreneur, it’s easy to get caught up in the excitement of your new product or service. No one believes in it more than you do,