Failory analyzed why +80 startups have failed and identified some of their common mistakes.
Product-market fit was a big reason, but other issues like failure to monetize and lack of experience were also common.
Lack of financing was not a major problem.
When asked what they would do differently many mentioned the importance of the lean startup concept.
‘Lean: validation – talk to customers, test your assumptions, and find a market before you invest a considerable amount of time, effort, and money into an idea. Mentioned directly 20 times.’
Lean: MVP – build your prototype (the thing you’d use to test the market) as quickly and cheaply as possible. Iterate often. “
