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#3 is pretty straightforward from my experience - not having the right people around you. It's a mystery how or why people underestimate the power of a good team when venturing into something unknown.
Which is again relating to the 2nd point by @paulg - over spending!
Spend on resources who you think are valuable to the company and let go others asap.
"The team you build is the company you build." - @vkhosla
That's a great way to put it.
If you hire the best you'll never make something no one wants and spend too much. It's people.
I'd definitely put bad cofounder/ early employee fit high on the list
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