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How to Avoid the Most Common Reason for Business Failure

Buying
You can have the greatest idea in the world for a new product, or service, but if no one will buy it, you will not have a business—at least not for long.

In my last article, dealing with why businesses fail, I pointed out that almost 50% of the business failures studied by CB Insights failed because they tried to sell to a market that didn’t exist.

Even worse, 8 out of 10 reasons for failure had to do with wrong product, disconnected customers, or market problems. Or, in simpler terms, the startup founders built something that few people really wanted… a solution looking for a problem, or need, that just wasn’t there.

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