Wait 1 damn minute… well a Steemit minute… don’t start your new business before you do these 3 things. It would be in your best interest to always do some brainstorming before you throw $100’s of dollars at a business and not know if it will work.

Here is a static about new businesses that EVERYONE who plans to start a business should know. According to FORBES who got their information from Bloomberg.com……

8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn

These 3 reasons should help you to not end up in this statistic.

#1 Pick an idea:

that people want. Every business idea you may have may not be lucrative. Sometimes we think because we like something it’s a go but you must gather a few ideas and do the next step below.

#2 Research your idea:

so you know the standards and customers of that industry. This will help you to determine what types of services, products and prices you should have or provide.

#3 Be the customer:

not only know the customer but become the customer so you can see what’s the best way you want your customers experience to be with your new business venture. When you are the customer you may have to do things like purchase the product or service to see what you like and dislike then create your own business a few steps better than the competition.

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Article Referenced:
https://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/#5ffd05ab6978