This is a partial list of ways a venture may fail. The list serves to illustrate both the breadth of factors to consider as well as the level at which these factors should be framed.
- Nobody wants what you are selling.
- Somebody wants it, but they don’t represent a real market.
- People want it, but for some reason they can’t buy it or can’t use it.
- People want it, but you can’t get it to them (economically).
- The technology doesn’t work.
- The technology works but you can’t protect it.
- The technology works but you can’t get it into a reasonable product.
- You build a bad product.
- You can’t build your product for a low enough cost.
- Somebody introduces a better product.
- Somebody has the power to stop you and exercises it.
- You need somebody else in the value chain to do something and they don’t.
- You can’t find the right people.
- You just don’t execute on something important.