Theranos, a blood testing company founded by Elizabeth Holmes, made boastful promises but didn’t give the medical industry any new hope. For all intents and purposes, Ms. Holmes had a great idea while at University but failed to deliver in the long run.

According to Investopedia, several reasons are given as to why businesses fail. Most have to do with marketing. That is to say, the market isn’t defined, it’s not targeted, and it’s not being reached effectively.  Time is required and the entrepreneur must effectively reach the new market before the money runs out. Also, it should be understood that one must have expertise in his or her endeavor. Furthermore, if there is a partnership, each partner’s role must be defined. If not, it can be a cause for failure.