You have provided some brilliant point. I want to add that personal factor that causes business to fail. And one of it to that a business that is just start should know when to compete and when to collaborate. Sometimes you thrive and succeed better when you choose to collaborate with other businesses than compete with them. You may have all the money as a new business to go head to head against an old business but then an old business will beat to it in experience of the market because the market is dynamic and what you may have on paper during the planning phase may be totally different when you hit the ground running.