Why are there so many startups failing in 2024? Hey YC Community, What are the top 3 reasons why startup continue to fail in 2024, despite so many knowledge out there for free on how to build successful startups? Cheers, Behan Entrepreneur |
Why are there so many startups failing in 2024? Hey YC Community, What are the top 3 reasons why startup continue to fail in 2024, despite so many knowledge out there for free on how to build successful startups? Cheers, Behan Entrepreneur |
1. Customers all have a singular convergent goal to 'get efficient'. The only thing better than software which can reduce jobs, is having less software.
2. That is happening in all companies, so whatever type of software you are selling it becoming more difficult. Doesn't matter if former PMF existed.
3. Some of the digital boom during Covid (e.g. ecommerce) that floated so many startups is running backwards. Wealthy consumers mostly spending money in person. So e-commerce went from insane growth to slow growth, etc.
Those are the three things we've seen but really they apply to any B2B startup.