Why So Many Business Ideas Fail

| May 4, 2014

If you have ever gambled you know the feeling when its time to take your winnings and go home. Staying at the table any longer will only cost you money. There is a point where luck and timing played its role leading to a profit and you take that profit and walk away. There is no guarantee this “new found gambling skill” will translate to the roulette wheel.

In business we can play too many hands with “emotion, guts & intuition.” I believe all these are traits a good entrepreneur has but these are normally initial triggers not deciders. You get a good feeling this is a profitable opportunity but you still do the due diligence required to validate the idea. Is there a market for your product or service? Will you have a competitive advantage? What is your value proposition? You get the idea?  Emotion is a great igniter but should not be the decider.

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