Why Your Amazing Startup Idea Isn’t Taking Off

Some common points of execution failure and how to get past them

Lack of definition

Starting with the 10 percent side of the execution path, your idea may not be well thought-out. And I’m sure you’ve probably considered this, but have you considered why? Because there may be something there after all.

Lack of communication

Most entrepreneurs don’t think about communication until the product is about to launch. This is a common mistake that leads to a lot of scrambling when those low initial sales numbers come in.

Lack of demand

You may be building something nobody wants. There are huge differences between liking something and wanting something. For the last 10 years or so, social media has done a very good job of blurring those lines.

Lack of value

There are very few people out there who will pay $20 for a $10 product. You can’t build a business catering to those customers. They tend to wind up not having a lot of disposable income because someone else will likely have gotten to them before you.

Lack of economics

Once you answer the value questions, you might come up against the economic brick wall. Your idea may not be economically competitive with other products like it, or with the manual version of your product, or even with doing nothing at all because if change is uncomfortable, doing something completely new is often seen as more trouble than it’s worth.

Lack of sales

Finally, we’ve reached the 99 percent part of the execution path. Maybe you’ve got a great idea that’s fully formed, you can communicate it crisply, and you’ve found demand. The product you’ve built is valuable and the economics work.

I’m a multi-exit, multi-failure entrepreneur. Sold ExitEvent. Building TeachingStartup.com & GetSpiffy. Former Automated Insights. More info at joeprocopio.com

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