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In one case, a startup developed a new water meter that might save a city a lot of money. The solution itself was compelling-it offered an enormous worth at a lower price. However, what the company didn’t acknowledge or keep in mind was that the barrier to sell was nearly not possible. The resolution makers for buying the water meters didn’t actually worth saving money, and had present relationships with other firms that trumped any want to change. Because the corporate hadn’t thought via the how” of entering into the existing market, they weren’t in a position to overcome the barrier to make the sale, despite their helpful product.
One of the explanations so few startups succeed is as a result of usually there is no realistic … Read more