Startups are an essential part of the global economy, driving innovation and job creation. However, the harsh reality is that a significant majority of startups fail within their first few years of operation. This paper explores the critical role of product management within the context of the product lifecycle and investigates the reasons behind the high failure rate of startups. By examining various stages of the product lifecycle and the specific challenges faced by startups, we aim to identify the key pitfalls that contribute to the downfall of 95% of new businesses. This analysis will provide valuable insights into how startups can enhance their product management strategies and increase their chances of success.