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Thursday, March 26, 2009

What is the main cause of business failure?

What is the main cause of business failure?

Lack of marketing strategy.

Here is a big one!

Not following up on your marketing strategy is another one.

Here is a common procedure for starting a business or a product:

Great idea > Business plan > marketing strategy > Sales .

This procedure is more and more outdated. Here is a new emerging trend:

Find a market > Find their needs > Develop the product > Sales.

the difference? finding a market is step 1.