5 Signs of Failure
IntroductionMore than 70% of failed projects do not fail because the idea was weak, but because they were launched without a feasibility study.If you are starting or expanding a business and haven’t conducted a feasibility study yet, read these 5 signs carefully; each one is a serious warning signal.1. Decisions are based on guesswork and personal experience.If you frequently hear or say things like:“I feel there’s a market for it.”“A friend of mine did this before.”“My experience tells me it will work.”…know that your project is proceeding based on mental assumptions rather than real data.A feasibility study is designed precisely to eliminate emotional decision-making and replace it with analysis.2. You lack a clear picture of the market and the customer.If you still do not know exactly: Who exactly is your target customer?What is the market’s true capacity?Why should a customer choose you over your competitors?Your project is moving through a
