There's one thing I'd add, using the same mountain climbing analogy. Often you put a team together, and it climbs partway up a mountain expecting gold at the top. About halfway up a number of things can go wrong.
- The route may be impassable given the climbing techniques the team is capable of (the technology doesn't give the hoped-for benefit)
- You may get a good view of the top and see that there is no gold, just a bunch of shrubs. (the market dynamics make it hard to make a profit)
- The view halfway up the mountain lets you see the top of an adjacent mountain that does have gold at the top (Focusing on a different segment of the market is more profitable)
- There's a weak link in the team that makes climbing slow and difficult (missing skill sets)