Billions of $, £ and € are wasted every year by governments, investment funds, charities and individuals on business start-ups that fail or under-perform at best. I believe that if a professional accredited market research phase is completed before funding is agreed, it would: Ensure start-ups have a better chance of survival. Around half of all start-ups fail within their first 5 years. Around 20% fail in the first year. But virtually all will under-perform against plan in the early years. Success is always harder than anyone ever imagines. Prevent businesses from starting, and funders wasting their money, if propositions don't realistically hold water. Professionalise the owners of those businesses faster than if they learned all their lessons 'the hard way'. So if they do fail, they'll stand a better chance of success next time. The people who perform the market research might become a recruitment resource for the start-ups. The project can be funded by taking ...
My kids call me Grom (Grumpy Old Man). OK, pedants will know that ought to be GOM, but a Grom sounds grumpy. I started building internet businesses in the 1980s and these days invest in other peoples' start-ups. Now that less of my life is about to happen than has happened, I've got a lot to get off my chest. This blog is a series of posts about things that annoy me, things that excite me or things that just need to be said. Grumbles of a Grom... Grombles