Why do startups fail? Is there a recipe for success for your new and exciting business venture? Unfortunately the answer is no. There is no way to guarantee success in your new business. While there may be recipes (or templates) you can use to help you on the path to success, it’s also useful to know what things you should avoid as a startup. A groundbreaking idea alone, the one that will transform the market, won’t have you climbing the ladder of success especially when you’re running your business single-handedly. And failure is hard, demoralizing, painful, and embarrassing. But let’s look at it another way. Failure is also an opportunity to learn from the big mistakes that are usually made by so many new entrepreneurs. Today we’ll discuss some of the most common pitfalls for new entrepreneurs so you can avoid them.