What is the Primary Reason For Startup Failure?

Posted by martinzwilling under Startups
From http://blog.startupprofessionals.com 4112 days ago

When I heard a friend make the statement “Your startup can’t fail if you don’t quit,” I realized that every entrepreneur should adopt it as their mantra. Pivoting or dealing a new hand is not quitting. If we all repeat this mantra, perhaps we can improve the statistic that over half of new startups fail within five years. Nothing is more discouraging to future entrepreneurs than a failed startup.

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Comments

Written by bigmoneyweb
4113 days ago

First and foremost - failure to recognize the need to have the business side of things run by someone with business experience. Time and again startup fail because an entrepreneur with a great product vision insists on running the business despite the lack of business skills and experience. This leads to poor decisions that doom the business. Second, failure to understand what the market actually wants. Building what is cool or exciting is of little value if there is not a market need for that product. Take the vision and tailor it to what potential customers actually want/need. thanks for sharing.

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