I think these are the most important reasons of a startup failure, listed in no particular order:

Overvaluation of the idea's importance. The idea is worthless. If you think that the idea is all you need - you’re wrong. An implementation is important, not the idea.

Lack of precision. If you think that your product or service is for everyone then it’s for no one. You need to select a narrow target audience. An excellent app for a cab driver will obviously be useless for a housewife.

Mixing friendship and business. Leave friends for personal communication, do not start a business with them. You’ll either lose in friendship or in business.

Do not spend time selecting employees. It's the most important. Start your business by hiring a recruiter. A good manager delegates everything he can.

Consider a start-up as merely a way to make money. A startup must create useful service or a product. It must have a mission that is understandable to the target audience and your employees. An inspiring vision is what distinguishes a successful startup from another money-making tool.

No game plan You must understand exactly at what stage of development you will be in a month, six months, a year. Planning the crucial activities beforehand is essential and cannot be done once you begin to work 80 hours a week.

Lack of patients Rarely does one succeed at once. You have to understand this and be ready to make one step at a time. Being truly passionate about the problem you are trying to solve with your product helps a ton.

Mix tasks of the employees Do not load the employee with non-profile tasks - accountant-content manager-system administrator is bad.
Overspending. Buying the things you don’t absolutely need is a killer mistake! However, while your startup can sustain without certain services, it certainly cannot without certain people.

The other side of the coin is that with a growing team you spend more time solving the managerial tasks and less time actually getting more customers and solving their pains. Thus said, outsourcing most tasks to a reliable partner or a convenient tool and keeping your team a lean machine is the best course of actions to spend less money with the best result.

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