The number one reason for new business failure, is that there was never a market for their product or service in the first place; in other words, they never really had a business. It’s only a business if someone other than your mother will give you money for your product or service.

According to CB Insights, who analyzed 101 failed startup businesses, the top ten reason that new businesses fail, are:

  1. No market need
  2. Ran out of cash
  3. Not the right team
  4. Were outcompeted
  5. Price/cost issues
  6. Poor product
  7. Needed/lacked business model
  8. Poor marketing
  9. Ignore customers
  10. Product mis-timed