1. Spat between cofounders
2. Poor accounting controls
3. Lack of core skills
4. Poor business model
5. Expanding too soon
6. Poor strategic management
7. Building a wrong product
8. Not being able to build the right team
9. No mentors or advisers
10. Founders unable to make decisions
11. Unaware of competitors and changing market condition
12. Not serving a market need
13. Running out of cash
14. Ignoring the competition
15. No attention to marketing
16. Starved of customer feedback
17. Poor demand estimation
18. Lack of focus in business
19. Too early or too late
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