BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Low Budget
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Location
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Incorrect Market Analysis
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Management
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Detailed explanation-1: -A major reason why companies fail, is that they run into the problem of their being little or no market for the product that they have built. Here are some common symptoms: There is not a compelling enough value proposition, or compelling event, to cause the buyer to actually commit to purchasing.
Detailed explanation-2: -Key Takeaways. According to business owners, reasons for failure include money running out, being in the wrong market, a lack of research, bad partnerships, ineffective marketing, and not being an expert in the industry. Ways to avoid failing include setting goals, accurate research, loving the work, and not quitting.
Detailed explanation-3: -Poorly managed marketing (or sales) is a major reason for the failure of many startups.