Forget all they hype around the startup culture, the sad reality is that about 3 out of every 4 startups are bound to fail. Needless to say, venturing into startups is not for the faint-hearted.
However information, they say, is power. Having an idea of some of the pitfalls of running a startup could help better position you the be successful at it.
Below is an infographic of the top 20 reasons startups fail. Some of the reasons are pretty obvious – lack of funding, investors and domain expertise, no addressable market, etc. – a few others, you don’t come across everyday everyday.
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New Report: Nigerian startups raised $24.7 million in Q2 2019, 40% higher than Q1. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.
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