Last week, Journera, an innovative startup with a mission of revolutionizing the travel industry by connecting all aspects of a journey together, unfortunately announced the closure of its operation. Despite having secured a total funding of $36 million over the span of 8 years, the company encountered challenges in finding a viable market for their product.

While it is certainly disappointing that Journera had to shut down, it’s important to remember that failure is often an essential part of the entrepreneurial journey. Many successful entrepreneurs experience multiple failures before finding a winning formula for their business. In fact, some would argue that failure is necessary in order to ultimately achieve success.

Once again, thanks to Nico over at Failory.com for helping us avoid failure.

Looking at the reasons why Journera failed, it’s clear that product-market-fit is essential for any startup. Without a strong need and willingness to pay for your product, even the most innovative and exciting idea won’t succeed. It’s important for entrepreneurs to constantly evaluate their product-market-fit and adjust their strategy accordingly.

Timing is another key factor that can make or break a startup. While Journera may have been ahead of its time, it’s possible that their idea could still thrive in a different market or at a different time. Successful entrepreneurs pay close attention to market trends and are able to identify where the next big opportunity lies.

Ultimately, the lessons learned from Journera’s failure can be valuable for any entrepreneur. Remember, failure is not the end, but rather an opportunity to learn, grow, and improve your strategy for future success.