There are plenty of issues that contribute to the failure of startups, such as bad employees, not enough funds to sustain operations, and no clear business direction. However, all these issues stem from a bigger problem, which is a lack of passion and determination to succeed.
Founder Institute CEO and co-founder Adeo Ressi explains the #1 reason why most startups fail to achieve success, which was featured in a Forbes video titled “FAIL ACADEMY: Top Reasons Startups Fail.” And the answer may be a lot simpler than you think.
At the end of the day there is only one thing that kills a company, that is when the founder gives up.
Finding solutions to problems is what motivates an entrepreneur to see an idea blossom into a business. There is guaranteed to be challenges that come with the entrepreneurial journey, but overcoming them is what makes the journey so rewarding and enriching for entrepreneurs.