"By far the most common reason for shutdown was lack of product-market-fit which constituted more than half of the marketing mistakes"
During the dotcom boom of the late 90's the issues in the Valley were often attributed to a lack of engineering talent. However, after the bust many founders and execs realized that their failures were not due to a lack of product and engineering talent, but that there were too many engineers putting out products that the market did not want or need.
This study seems to validate that idea. Without a clear understanding of the market and how to reach your potential customers, your idea is likely not worth the time. Spend more time on understanding the market, and how to reach it, and you will have a much better chance at success.
During the dotcom boom of the late 90's the issues in the Valley were often attributed to a lack of engineering talent. However, after the bust many founders and execs realized that their failures were not due to a lack of product and engineering talent, but that there were too many engineers putting out products that the market did not want or need.
This study seems to validate that idea. Without a clear understanding of the market and how to reach your potential customers, your idea is likely not worth the time. Spend more time on understanding the market, and how to reach it, and you will have a much better chance at success.