Postmortem analysis was conducted on 1,026 shuttered companies with reasons for shutdown and a total of 127 unique reasons for shutdown were identified.: Through its research, the company observed that most new companies failed to identify their problem-market fit before they validated their business to achieve the desired product-market fit, and as a result, they ended up in a highly saturated and competitive market.
“We all know that ideas are cheap and execution is expensive. But what’s more expensive? The execution of untested ideas.” : When founders want to build a business with strong competitive edge but do not have the right knowledge and affordable tools, Flipidea aims to help founders analyze and validate the market at minimal cost, so founders can make data-informed decisions to improve and innovate their business.
“At its core, business is more science than art because its many structural components and processes are methodical, measurable, experimental, and repeatable,” says Lee.
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