From lack of product-market fit to disharmony on the team, CBInsights has broken down the top 20 reasons for startup failure.

Top 20 Reasons For Startup Failure

  1. Building a solution looking for a problem, i.e., not targeting a “market need”
  2. Ran out of cash
  3. Not the right team
  4. Get outcompeted
  5. Pricing/Cost Issues
  6. A “User Un-Friendly” Product
  7. I got this product. Now I just need a business model
  8. Poor Marketing
  9. Being inflexible and not actively seeking for using customer feedback
  10. Release product at the wrong time
  11. Lose Focus
  12. Disharmony with Investors/Co-founders
  13. Pivot Gone Bad
  14. Lack Passion and Domain Expertise
  15. Location, Location, Location
  16. No Financing or Interested Investors
  17. Legal Challenges
  18. Do not use your connections or network
  19. Burn Out
  20. Failure to pivot when necessary

 

Don´t fly blind and better check your readiness to start and grow a new business.

Challenge your clarity of objectives and your briefing

It seems self-evident that the most important part of a brief is a clear description of what the aim of the brief is. Yet, this is consistently the weakest area of written briefs. It is often confused with overall business, brand or marketing objectives, whereas the single most important content section is the communication objective itself. Some briefs simply describe the sales target without any thought as to the role of communications.

Your briefing is key to success

The format should reflect the company’s beliefs about how communications work and therefore what is important enough to be included in the brief.

  • Where are we now?
  • Where do we want to be?
  • What are we doing to get there?
  • Who do we need to talk to?
  • How will we know when we have arrived?

Read further and find a briefing template.