"Failure is the mother of success." (Ancient Chinese proverb) The Chinese proverb, 失败是成功之母 (shī bài shì chéng gōng zhī mǔ; in Chinese translation), defined fai

"Failure is the mother of success." (Ancient Chinese proverb) The Chinese proverb, 失败是成功之母 (shī bài shì chéng gōng zhī mǔ; in Chinese translation), defined failure as an essential process to success. This is why in addressing high business shutdown rate, www.flipidea.co is building an affordable business intelligence to help early stage startup founders reduce costly mistakes, make prudent strategies, compete innovatively, and fundraise strategically to build businesses with strong competitive edge. Through our research, we 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. Our postmortem data also showed that most inexperienced founders lack the know-how and affordable tools to effectively validate the market and conduct competitors analysis. “At its core, business is more science than art because its many structural components and processes are methodical, measurable, experimental, and repeatable,” says Paul Lee Co-founder and CEO of Flipidea. “Founders, even investors, should identify avoidable patterns from past experiences to avoid hindsight bias. Similar to how experiments are tested for desired outcomes.”