When the duck ‘quacks’ …feed it!

by on 20/01/2010

There is a saying in Wall Street….  When the duck ‘quacks’ …feed it!

When an entrepreneur starts a business, this obvious saying gets overlooked. If understood this statement can save thousands of failures, bankruptcies, broken families, marriages….and the list can go on.

Let me give you an example: The centre where my office is located, runs courses for start-up’s by Business Link. Often I get chatting to the attendees and ask them a lot of questions. One of my questions to them is “how do you know there is enough demand for your product or service to build a viable business”? I get very unclear, distracting responses.  It says only one thing. It has not been worked out.

So why should anyone put all their finances and their personal assets on the line to start a business, without even working out there is a demand to sustain that business?

I am sure there are hundreds of reasons.

 
Question: If you can’t identify specific media that reach and convert prospects in a way that makes economic sense, would you be able to build a viable business?

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