Do startup companies have all the fun? They create new markets, disrupt old ones, receive enormous amounts of venture capital, have the best office building – and more. Is it really that easy to start a business and reach stardom.
Statistics show that the vast majority of startups fail. Reasons for failure could be because of premature scaling or for doing things correctly but in the wrong order or at the wrong time. There are many opinions and experts who will provide different advise and reasons as to why startups fails and how to keep a new business afloat in the perilous waters of the entrepreneurial sea.
All entrepreneurs have made mistakes, are making mistakes, and will continue to do so. Generally, it is not one mistake that sinks a startup, rather multiple reasons. There are, however, some key factors that can certainly weigh down a business and possibly sink it forevermore.
Research by CB Insights highlight the top reasons for startup failures: