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The One Reason Most Small Businesses Fail. And No, It Isn't Money

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Both the data and my anecdotal experience over the decades show businesses don't fail for the reasons we always hear. It's something else entirely.
The article from MSN discusses the primary reason why most small businesses fail, which is not due to financial issues but rather due to a lack of market need for their product or service. According to the insights provided, many entrepreneurs are driven by passion or the desire to solve a problem they personally face, but they often fail to validate if there's a broader market demand for their solution. This oversight leads to businesses that might have a great product or service but no substantial customer base to sustain operations. The article emphasizes the importance of market research and understanding customer needs before launching a business, highlighting that even with sufficient funding, a business will struggle if it does not meet a real market need.

Read the Full Entrepreneur Article at:
[ https://www.msn.com/en-us/money/startup/the-one-reason-most-small-businesses-fail-and-no-it-isn-t-money/ar-AA1AWyum ]