Most early stage companies do not have a solid grasp of the problems they are solving and for whom they are solving those problems (call it product market fit).

Once they figure that out, then they need to understand why they are better than the market and competitive alternatives, how to acquire customers/users and why people should make an acquisition decision now, and not in six months (call it go to market fit).

Most early stage companies miss the first hurdle. Most of the ones that get over that one miss the second hurdle.