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Incubating Impact: Establish a Framework for Innovation in Your Startup

Submitted by Marijuana News on Sat, 02/21/2015 - 13:20

Silicon Valley’s “fail fast” mentality sounds exciting: Go big, or go home! The problem, of course, is that failure isn’t appealing. It’s hard, painful, and, in certain cases, career-ending.

But if success is better than failure, why do so many startups flame out? A recent study by CB Insights found that most startups fail because there’s no market need for their product or service. Similarly, a 12th & Broad analysis found that poor market fit is a key culprit in startup failure. That’s right: Most startups fail because they build something no one wants.

What good is a well-crafted offering if it serves no discernible need and there are no customers willing to pay for it? If you think about it (or if you’ve been in this position yourself), you know it’s not simple to view your product or service objectively.

Founders are often overwhelmed with daily activities and buried in an...

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