Close to half of the over 100 startups analyzed made this mistake — and never recovered.
CBI Insights recently analyzed 101 startup post-mortems (reports they wrote after they failed). The researchers extracted the top reasons startups fail, including things like a pivot going wrong; legal challenges; disharmony within the team or with investors; poor marketing; and of course the one frequently cited: running out of cash money.
But the number one reason was none of those.
It was far simpler: the startup didn’t solve a big enough problem.