Why Do Businesses Fail in the First Year of Business?

Top10I get asked this all the time. Websites that monitor new startup failures often show that most of the problems startups have is not planning to succeed. It’s much better to take some time before you start your business to plan for its success. New businesses generally do one of the following: 1) learn all they need to know before they start, 2) try and play catch up after they have started their business or 3) pray they won’t be caught by something they didn’t know or realize that will put them out of business.

Entrepreneur Launch Pad is a great way to find out what you don’t know that you don’t know before you get started.

There are many paths to starting a business. Some just help you validate your product or service. Another path helps you validate a business. There is only one canvas that takes you all the way from idea, through validation of your customers and their pains, business planning to business structure preparation. Then it shows you how to you move on to finding your perfect MVP (minimal viable product) and finding the right stakeholders and the value of your business. With Startup Blueprint Canvas, the new canvas that ELP is offering, you’ll TRULY be ready to start!

Entrepreneur Launch Pad is now rolling out the next generation of business canvas that goes beyond the models that many are familiar with. While the old canvases are still good, the new ELP canvas, Startup Blueprint Canvas, is a complete from start to finish get your business off the ground canvas. Instead of the normal 9 cells other canvases have offered, this one has 18 cells that complete the process for potential owners to really be ready to start their business. Startup Blueprint Canvas actually requires the business owner to validate their idea, customers, pain points and solutions. They discover more about how to talk to their customers, including the early adopters, and how to create a prototype and validation of the prototype at a reasonable cost to find out about the customers and what they want. No more guessing (sorry, those of you who think you know it all already).

Startup Blueprint Canvas is only taught in Utah at Entrepreneur Launch Pad classes. Their weekly meetings are free and will teach you the things you need to know to get your business started.

Want more information? Check out the included video that tells you the Top 10 reasons startups fail in the first year of business and then check out this site to find a class near you. If the location you’re closest to hasn’t switched to the new Startup Blueprint Canvas (some are still getting ready to make the change) ask them when they will be ready to teach the next generation canvas.

Link for video: https://www.youtube.com/playlist?list=PLCOLtCEHlz_Rv6LzyLUgBWRI57lhHU8w-