9/10 startups fail. While that’s a pretty high rate of failure, why do so many startups fail?
Most founders never really understand why their startups fail. Some play the blame game, others blame the economy, and a very few others take the blame themselves.
Watching your new business fail is extremely sad. It’s even worst if you don’t really know why it failed.
Here are 10 reasons why most startups fail:
No demonstrated user need
For example, consider 3D movies and TV. If you ask people why they sometimes prefer stage to screen, nobody ever says, “Oh, movies are only 2D.” 3D tech has novelty value, but even a little research would show its pushers that most people are perfectly happy to go back to 2D movies after experiencing 3D, and that many actively avoid 3D. That wasn’t the case when sound or color or fancier special effects were added.