Growth marketing

[PDF] #NeverFail series ⭐️ Episode #1: No market need (I)

I have recently stumbled upon an infographic in one of Neil Patel’s blog posts. It showed why new businesses (call them #startups) fail.

There were so many reasons. And most of them actually relate to the very basics of #entrepreneurship.

So, I decided to start this mini #LinkedInseries with tips to never fail (although yeah, failure is good sometimes).

The most common reason why new businesses fail is NOT #funding. It is by far that

💥There is no market need💥

This indicates one thing: no prior validation.

It works best if you split the #validation into 2 stages:

  • the idea
  • the product/service

🦌 Today, I will focus on #ideavalidation:

  1. write it down
  2. google it
  3. get feedback
  4. test your assumptions
  5. draft your proposition

More details below!

If you go this far & it looks good, then you are ready to validate your product. #Staytuned for part 2 tomorrow.

🦌 Have you ever done any of these steps for a new idea or before launching your business? What happened?

A. No, I went directly into making it a business

B. I failed to come far or my idea did not get positive feedback

C. It helped me solidify my idea & make it a successful business.

#thenordicmarketer #tellplaygrow

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