The top reason why businesses fail is the lack of market need. Four in ten businesses (42%) fail because there is no need for their products, according to a 2014 study by CBInsights. Things have gotten worse as the fail-fast mantra is spreading rapidly with “agile everything.”
Big & Small Businesses Alike
First, many entrepreneurs believe in Steve Job’s view that customers don’t know what they want, so why bother asking them. Go direct to market and test it!
Second, start-ups often rise from their founders’ personal experiences and needs, which for…