9 out of 10 startups fail because:
56% of 100% caused by Marketing Problems
Marketing mistakes were the biggest killers, and the biggest problem is the lack of product-market fit.
6% of 100% caused by Tech Problems
The biggest mistake is over-investment in expensive technology (developer time) before the marketing assumptions have been validated.
18% of 100% caused by Team Problems
Lack of technical knowledge, lack of marketing knowledge (and plan), and lack of business knowledge are the biggest killers.
Why is it essential to create an MVP?
Check Product-Market Fit
You can test your startup’s concepts before Launch, understand market demand, and get early users.
Minimize development costs
Developing an MVP will need a minimum of resources. Removing unnecessary features and implementations will reduce your initial costs.
Testing a minimum viable product
Mvp allows businesses to test a product idea and assess the validity or invalidity of their business plan.
Stages of MVP development
15-Step Checklist to Build a Successful MVP
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