Perhaps you have an idea for a new business or your corporation is looking to grow into new areas. What should be your first step? Size the market? Write a business plan? Put together a pitch to raise funding? Start building your product? If one of these options came to mind you would be in good company, most people come to similar conclusions when they think of starting a new business or launching a new product. But unfortunately you would also be wrong and if you don’t believe me, simply look at the failure rates of new businesses. Most new ventures, either within a corporation or standing alone fail, sometimes at rates approaching 90%. Such immense failure rates beg the question, are new ventures inherently so risky or could we be doing something wrong?
To read the full, original article click on this link: Everything You Know About Entrepreneurship May Be Wrong - Nathan Furr - The New Entrepreneur - Forbes
Author: Nathan Furr
