CBInsights published again their 20 reasons why startups fail research.
We agree with most of the CBInsights research research but have to differ on the first five reasons why a business fails.
Startup failures rarely come from the inability to create a product or raise funds. Instead, the culprit is typically a lack of understanding of either the market or the customer.
The first and utmost reason startups fail on our list is #1 but there is more to it.
And here is our basic list:
1. LACK OF MARKET FIT,
2. LACK OF INTELLECTUAL CAPITAL,
3. LACK OF A COHERENT & COMPLEMENTARY TEAM (ALSO PART OF LACK OF INTELLECTUAL CAPITAL),
4. LACK OF BUSINESS FUNDAMENTALS AND EXECUTION,
5. LISTENING TOO MUCH TO OTHER BUSINESS EXPERT WANNABES… (You know the Resident Experts listed in the previous article above.)
If you care about your time and want to succeed on a proven fast-track process give us a try.
And here are the 20 reasons form CBInsights: