Chapter Two: Lessons Learned
Businesses generally fail for 8 fundamental reasons:
- People choose a bad business opportunity.
- People try to sell to the wrong customers.
- People try to sell the wrong products or services.
- People price their products improperly.
- People overestimate the number and the speed at which people will buy.
- People cannot manage the business so as to consistently produce high quality products on time at a profit.
- Employee problems.
- People cannot scale their businesses to accommodate customer demand.
Let’s move on to Chapter 3, and learn some techniques to evaluate business ideas.