Which factors could lead to a startup, with proved market and good product fail ?

I have been closely following a startup (founded by my friends) which recently shut down. I was very hopeful for them as they were working in a proven market(people are buying similar products from other startup in the sector) with a good product( in comparison with peers).

Things started getting bad when disagreement arises in team over issues like expansion, burn-rate. This led to total fallout between technical co-founders and business co-founder and overall health of the startup, leading to its shutdown.

This get me thinking which other factors beside team, could make-or-break a startup with good product and market ?

submitted by /u/hobbesid
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