How to avoid failure as an entrepreneur
Dr. Moens Shujaa
He often encounters Entrepreneurs Many entrepreneurial ventures often fail within the first three years, as studies indicate that approximately 50% of entrepreneurial ventures fail within the first year, while approximately 80 to 90% of entrepreneurial ventures graduate from Entrepreneurial projects of the market within the first three years!
To understand these reasons, it is necessary to know that there are two aspects of the entrepreneurial project, both of which are very important, namely the personality of the entrepreneur and the nature of the project and the study of its realistic feasibility in the majority of the reasons revolve around them, and perhaps the main cornerstone is the personality of the entrepreneur, establishing a professional work team, in addition to having capital.” There are also several experimental tests that help the entrepreneur to determine his eligibility to engage in the entrepreneurial experience, perhaps the most famous is the BBC test for entrepreneurs on the radio website and there are several free sites that can be searched, tried the test and benefit from it. .
As for the entrepreneurial idea that the entrepreneur is betting on, it is often a product or commodity, but the feasibility study must be based on facts and a representative segment of the target audience and not just theoretical, and university researchers have identified the most important reasons for the failure of entrepreneurial projects, namely:
- Running out of capital/not getting funding.
- The product does not meet the needs of the market and thus exits the competition.
- A flaw in the business model and procedures.
- Failure to build an effective team.
- Bad product - poor product.
- Administrative disagreements.
- Loss of passion.
Specializing in real estate finance and performance
@MounesShujaa
How to avoid failure as an entrepreneur
