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Business strategy
Number 1 reason why new businesses fail
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[QUOTE="TOZZIBLINKZ, post: 206023, member: 37528"] 1. Investigating the Market So you've always wanted to open a real estate agency, and you finally have the means to do so, but your desire to open the agency blinds you to the fact that the economy is in a down housing market and the area where you want to work in is already saturated with agencies, making it very difficult to break in. This is a mistake that will result in failure from the start. You have to find an opening or unmet need within a market and then fill it rather than try and push your product or service in. It's a lot easier to satisfy a need rather than create one and convince people that they should spend money on it. 2. Business Plan Problems A solid and realistic business plan is the basis of a successful business. In the plan, you will outline achievable goals for your business, how your business can meet those goals, and possible problems and solutions. The plan will figure out if there's a need for the business through research and surveys; it will figure out the costs and inputs needed for the businesses. 3.Location It also matters when it comes to business as mentioned. [/QUOTE]
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Number 1 reason why new businesses fail
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