Thinking of starting a new business? Can you properly and uniquely address the nine topics that are shown in the infographic below by StartBloggingOnline?
Thinking of starting a new business? Can you properly and uniquely address the nine topics that are shown in the infographic below by StartBloggingOnline?
It seems we are currently in a time where startups flourish. However, it seems that many skip a few of the steps outlined in the model. Predominantly many startups do not research their industry/niche and do not study competitors. These steps are crucial in the success of a new firm. Without researching the industry/niche the new firm cannot truly capture an area that is not over-saturated. Additionally I find that especially in the clothing industry there are so many new startups that fail because they do not learn from competitors missteps but rather model their business after a potentially failing business.