It’s never an idea that fails.
Most of the start-up I know, and which failed is because of;
- Founders personality did not match with start-up’s personality.
- Most of the people start a business just because he/she needs to prove to the societal pressure of doing something.
- Not having a well planned and researched business model.
- Product has nothing new to add value in users life.
- The business was not scalable.
- Unplanned expansion plan.
- Unwanted cash burn in the form of marketing and promotions.
- Budget required and fund in hand does not match.
- Not having a realistic goal.
- Founders are not good in doing sales.
- Cost of customer acquisition is higher than lifetime value of customers.
- Poor hiring.
- Bad team management.
There can be many more.
Keep exploring and learning.
Others mistake are not to be repeated.
Stay Home, Stay Safe.