Nobody wants to spend a ton of money launching a new business — only to discover they might as well have set it on fire. It’s doubly true if you’re a senior — as you won’t have as many years to recover financially.
CB Insights (a venture capitalist database) examined what contributes to the failure of new businesses. “After analyzing 101 startup post-mortems, they found that 42% suffered from a lack of demand for the product or service being offered. They used a harsh phrase to describe this cause of failure: ‘no market need.’” (Source Harvard Business Review)
Fortunately, you can determine this market need (or lack thereof) BEFORE you spend the big bucks! Continue reading “Discover if your new biz idea will succeed — BEFORE you launch!”