Every year, more than 600,000 companies shut down in the US, and India faces a similar challenge. New business owners often make mistakes that can be avoided, leading to what they call "Infant Entrepreneur Mortality."

One big mistake is not talking enough to customers, which is a clear sign of trouble. Many startups go after investors more than customers, and that's a common way they end up failing.

The startup journey is arduous, with a staggering 90% failing within the initial three years, as revealed by a study conducted by IBM and Oxford. A more extended timeframe of five years shows an equally discouraging statistic: 90% of startups fail.