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Failure Analysis: What to do if my startup is about to fail?
DB
DB
David Berman, Bootstrap Expert answered:

Could it be that your business model is faulty?

Dan hinted at this in his suggestion about concentrating on higher margin clients (in other words - focus on those that pay best and eliminate those where the margin is low).

That's just one factor you must consider - others include:
-How many clients / sales do you need in a given period of time to hit your top line requirements (i.e. the gross income you need per month)?
-Who specifically is your market?
-How are you finding them (outbound marketing)?
-How are they finding you (inbound marketing)?
-Why will they choose you over other that provide a similar service (USP)?
-What is your pricing model? Does your market allow for price elasticity?
-What is your offer?

If you don't know the answers to these questions (and others like them) then you are operating blind. When you DO know the answers to these questions then your strategy becomes more clear and your day-to-day "working ON the business" actions become obvious.

I empathize with your situation. I've been there (and I'm willing to bet that most of the experts here have had similar experiences with their businesses).

The great news for you is that you have immediate access to an amazing group of experts that can very likely, for a small investment (the cost of a call or two), help you get back on track.

If you are serious about saving your business - take action today. Find an expert here on Clarity and schedule that call.

I wish you the best of luck!

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