Brian Head, Economist with the SBA Office of Advocacy, noted that the latest statistics are a much more accurate assessment of new business success rates, and that "as a general rule of thumb, new employer businesses have a 50/50 chance of surviving for five years or more."
1. You start your business for the wrong reasons.
2. Poor Management
3. Insufficient Capital
4. Location, Location, Location
5. Lack of Planning
6. Overexpansion
7. No Website
More here.

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I would add an overarching theme: poor execution. You can have a plan, a good market, plenty of capital -- even a killer web site and still fail.

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