Last week I promised to talk about why most businesses fail which is the assumption that as long as a product is good there will always be a market for it. That assumption is wrong because it is not established upon any data. 

It's like trying to sell ice to an Eskimo, it doesn't solve their problems.

Imagine you visited a community without a school and a hotel and immediately you assume you need to build a hotel and a private school in that environment. Your decisions were only based on assumptions and not on any research. The dangers of such an assumption are:

The market may not be large enough to make it profitable even if your product solves its problem. 

The market may not have the financial power to use your product or service. 

The market does not see your product as the right solution to their problems. 

Your solution may be too complex for them. For feedback and questions send me an email at [email protected]. Connect with me on Twitter @Osamuyi_H