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This chapter is from the book

Chapter Two: Lessons Learned

Businesses generally fail for 8 fundamental reasons:

  1. People choose a bad business opportunity.
  2. People try to sell to the wrong customers.
  3. People try to sell the wrong products or services.
  4. People price their products improperly.
  5. People overestimate the number and the speed at which people will buy.
  6. People cannot manage the business so as to consistently produce high quality products on time at a profit.
  7. Employee problems.
  8. People cannot scale their businesses to accommodate customer demand.

Let’s move on to Chapter 3, and learn some techniques to evaluate business ideas.

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