Why Entrepreneurs Fail

Entrepreneurs often fail, and this is the reflection of trying to create the future and the risk it entails. But there are many reasons that can be identified and the risk of failure mitigated. Some failures happen because of co-founders, some with getting the wrong employees, not having a performance measurement system or not firing them quickly enough and others happen due to the lack of a product-market fit. As a startup’s survival is based on the number of pivots it is able to make before the funding runs out, identifying a customer’s articulated need and converting it into a dependence is price of entry into startup that can scale. Failure risks and how to mitigate them are discussed in this chapter.