Part of the reason for this is the fact that first-time founders often make certain key mistakes that harm their businesses.
6 Costly Mistakes to Avoid as a First-Time Entrepreneur
Josiah Humphrey
1K52

While often true….more so is that one has to go through these errors in order to learn real-time how to do better. A startup person can read all they want, attend all the seminars in the world, talk to all the experts, be mentored and guided along the way, but in reality, where bills have to be paid for both business and personal it will be the daily grind that determines what is needed. Since every business is different the lessons to be learned will be also.

I’ve worked for a number of startups headed by seasoned folks who failed and succeeded in their past and yet still failed once again in part because of their missteps and because of that which is out of their control. For example, a telecom company ran out of time to reach their product release date that had passed on one standard as another newer version of it was published causing a complete redo of product testing which the company was unable to complete. Some folks run out of money. Others live on the hope to meet the needs of a market that, unfortunately, changed by the time of their market release. In one semiconductor company we had missed a window of opportunity because a plastics manufacturer overseas that was doing the packaging of the part (not boxing) had burned down. The disaster didn’t just hit us it hit bunches of semiconductor companies. We survived that, as the others did, but the costs were a nightmare.

There are just some events that happen that no matter the expertise of the entrepreneur, or foreknowledge, will severely cost or put out a business.