According to CB Insights, the leading reasons that startups fail are:
1. Ran out of cash/failed to raise money
2. No market need
3. Got outcompeted
4. Flawed business model.
An item surprisingly not on the list is poor positioning and messaging. Even if a startup has a terrific product that meets a need, its success can be stifled by positioning that’s unclear, untargeted, and uninspiring.
Positioning is a critical business pillar. It underpins marketing and sales activities but doesn’t get anywhere near the attention that it deserves.
More: Speaking of positioning, I’m doing a free Webinar – A crash course in B2B strategic positioning – on August 31 at 11 a.m. EST. Grab a spot today!