14. Why startups fail
4 out of 5 new startups fail within the first five years.
It doesn't have to be that way. All it takes is a daily objective assessment of the company's status in three major areas: marketing, sales and production.
This is what the BMW workshop teaches. It's a ruthless system of objective business performance evaluation.
A business owner who practices the BMW philosophy, will have reality stare at him / her every single day. He/she will not be able to escape the (harsh yet necessary) truth. Truth is needed for growth.
It is said that you can choose to take any action you want, but you cannot choose the consequences of your actions.
The Business Modeling Workout workshop is just an application of that principle, and I think it can help first-time entrepreneurs to get acquainted with the fundamentals of how a business operates.
The key to business success is to leverage emotion within the target market, and to leverage logic within the enterprise.
It doesn't have to be that way. All it takes is a daily objective assessment of the company's status in three major areas: marketing, sales and production.
This is what the BMW workshop teaches. It's a ruthless system of objective business performance evaluation.
A business owner who practices the BMW philosophy, will have reality stare at him / her every single day. He/she will not be able to escape the (harsh yet necessary) truth. Truth is needed for growth.
It is said that you can choose to take any action you want, but you cannot choose the consequences of your actions.
The Business Modeling Workout workshop is just an application of that principle, and I think it can help first-time entrepreneurs to get acquainted with the fundamentals of how a business operates.
The key to business success is to leverage emotion within the target market, and to leverage logic within the enterprise.
posted by Super Peter at 9:58 PM
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