Twelve Reasons Why Businesses Fail
From Naeem Zafar's book
Seven Steps to a Successful Startup:
- Solving a problem that most users are not willing to pay to solve your way
- Thinking that you can do it all by yourself
- Lacking trust among team members
- Being overconfident and not questioning yourself
- Lacking a crisp, singular focus&emdash;Trying to be everything to everyone
- Marketing myopia
- Confusing a hobby with a business
- Pricing incorrectly and not knowing your real competition
- Failing to properly define your market and customers
- Not having enough financial resources available
- Focusing on a market segment too small to sustain you
- Starting a business for the wrong personal reasons
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