Every year, more than 75% of new and small companies around the world shut down.
According to our research on 352 companies that shuttered, our statistics showed that most companies failed to identify their problem-market fit (aka problem-solution fit) before they could effectively validate their businesses to achieve product-market fit.
In other words, most companies suffered from poor business model, struggled with strong competition, and had no product-market fit advantage, to address a sizeable market that really wants to buy their products or solutions.
A problem-market fit is achieved when you had identified the critical pain points suffered by your target customer segment and solved them by your product or solution offering, through deliberate process of experimentation and validation.
This is why www.flipidea.co (pronounced as flee-pee-dia) aims to help entrepreneurs discover analytical insights from business failures, and build successful business by making data-informed decisions.