Top 10 Reasons Why Most of Startups Fail?

According to statistics, 9/10 startups fail.

I’m not sure how this statistic affected you; perhaps you worried that your firm would be one of those that failed, or perhaps you imagined how the company that survived this deep sea of failure would be.

In both cases, this high percentage, which suggests that all businesses fail, cannot be ignored, and it is vital to comprehend the causes for this in order to benefit from it and absorb the lesson. That is why we will discuss ten reasons why businesses fail.

(1) The Product Has No Market Need

startups fail when they do not solve a market need. We’ve had cutting-edge technology, a wealth of data on consumer behavior, and a stellar reputation as an industry leader with a talented team of experts. But we lack the technology or business plan to address a public problem in a scalable manner.

The first reason for many startups’ failure is that they provide a product that isn’t currently needed in the market, as a result of failing to focus on and listen to customers, or because they presented their product at an inopportune time and were unable to achieve compatibility between their product and market users’ aspirations.