Most startups fail: 40% don’t survive the first year and 90% won’t make it to 10 years. Most new product fail: 82% of new product ideas don’t make it to market and 45% of those that do fail. Most opportunities are not what they appear to be: more than 60% of new businesses are not operating on their initial idea.
The greatest cause of failure in startups is in the development of customers and markets, not in the development of the new product. Focusing on product development and then launching a “product of perfection” will not bring you success. Customers do not care about your technology. They are trying to solve their problem or fulfilling their need.