Why Start-up Businesses Often Fail
These are many, many reasons why new businesses fail. http://www.childproofingexperts.com/find-a-professional/peter-kerin/
Just some of them include:
- the cost of customer acquisition;
- a concept that’s ahead of its time;
- wrong market positioning;
- too little income to survive;
- no ‘problem solution’ fit for customers;
- the wrong target market;
- low customer adoption / take-up;
- too early (ie: inadequate development before product / business launch);
- not enough demand;
- no real audience; and
- too much ego.
What all reasons for failure point to is that, at the end of the day, the companies didn’t make something that enough people wanted.
It’s very easy to fall madly and blindly in love with our long contemplated concepts and ideas.
The trick to actual success, however, is to remove our rose-tinted glasses for just long enough to understand exactly why, in a world of virtually infinite choices, people will notice, care, choose and pay us for our product or service instead of that of a competitor.
Don’t tell your potential customers what you made or can do for them – tell them why it’s going to matter!
If you’d like to read a comprehensive list of reasons that start-up founders have cited for failing, click HERE.