HERE'S WHY YOUR BUSINESS FAIL EVEN BEFORE YOU START.

How possible is that?

“Failure before Starting…”

Many Start-up businesses have failed even before they are birthed, they failed during the conceiving stage and with this, no amount of capital fused into this business will fix it.

So why not avoid these mistakes if you want to grow your business.


Research has it that running out of funds, being in the wrong market, ineffective marketing. lack of expertise in your field… are the reasons why businesses fail

But

Don’t you think you should know WHY?

I have classified these REASONS into 2 stages

“The Conceive Stage and The Birth Stage”

The Conceive Stage: Any Business Idea conceived on the reality of other successful business and not on the standard of solving a NEED or a PROBLEM is hitting towards failure.
You only model other successful business when you have a need you want to solve and this need or problem is the power house of your business. Your Funds and Capital is not Important at this stage.
Check out my previous post on #DAY1


The Birth Stage: At this stage, some business are so overwhelmed with high expectations wanting to cash out in Billions and with this, they miss the whole idea which is having your customers at heart.
At this stage, your whole energy should be channeled towards knowing and understanding your customers pain points. This will be the source of your income inflow.

Am sure by now, you should have discovered that before funds, capitals and others, there are other neglected but very important assignments you need to carry out.

A failed business cannot be profitable despite the amount of funds fused into the business.

WHAT YOU MUST DO

√ Build and Restructure your business from the early stage.
√ Know who your Audience are
√ Understand their pain points
√ Don’t misuse your audience, build a lasting relationship with your audience.

Hope you got value.

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