Top Reasons Startups Fail, iiQ8 create a successful venture or develop existed
The Top Reasons Startups Fail, iiQ8 create a successful venture or develop existed
In order to create a successful venture or to develop an existed one, an entrepreneur should identify the problem he/she is trying to solve, or the area in which value proposition of an existed product or service can be developed.
To understand the business problem, an entrepreneur has to identify the following:
1- The symptoms and the causes of the problem, and how to differentiate between them before thinking of any solution.
2- What is the main goal of the project (profits/growth/market share/optimizing costs/...etc).
3- Who will be involved in the decision making, and what criteria decision makers will follow to move forward with the project.
4- What are the constraints and restrictions that prevent the happening of any process within the project. And, what are the limitations of the available resources and capabilities.
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