I was reading an article recently that was stating that the largest single cause for startup failures (more than 40% of the cases) is the lack of a market for the product. Or in other words lack of customers or clients. I know big shock. You can have the world’s best mousetrap, but if no one knows you exist how they would know to buy it.
The article went on to describe that almost 25% of startups fail because they don’t assemble the right team and – in our technology-drenched world today. So they are not talking about setting up a one or two person operation here. They are looking at a significant investment looking to launch what should be a low middle tier business within a year or two.
It was also noted how crucial the E suite (engineering, design and programming talent) is and should be at least as robust as the C suite.
Again if you have the capital to launch a multimillion dollar business, I would imagine the basics research has proven the idea and the proposed tactics to be viable for a launch.
If you are using VC capital, they already have plans to replace you and spin the company off and get the return of their capital and their vig (or profit if you prefer).
Sometimes success can be had from making all of the wrong decisions. Other times failure can come from the best possible team available. You cannot control all of the variable of all aspects of the business at all times.