Watch this video (link is below) to understand why startups fail. It often is not the product. As you listen envision the business model canvas. Entrepreneurs must test assumptions. Which ones do they seem to miss?
Also note the concept of time. Time is a valuable resource for an entrepreneur and if misused can compromise startup success.
As you consider time and testing assumptions think about the characteristics of successful entrepreneurs and entrepreneurial teams. They will be important to demonstrate in this course.
The video discusses what investors look for and what customers look for. Consider what each seeks and why and how they are similar.
Watch the first 8:50 of this video: http://www.youtube.com/watch?v=ouHDNBT_leg&feature=youtu.be (Links to an external site.)