Failure In New Business Development

New business development
consists of trial and error.
Very few people
develop the best product or service
for their target market
the first time.

We develop a product.
We test it.
It fails.
We revise the product.
We test it.
It fails a little less.

We repeat the process
again and again
until we get it right.

Seth Godin
shares

“Failure is a way
of discovering
one more thing
that customers didn’t want,
and perhaps,
learning a bit about
what they might want.
By iterating
without tears or fears,
organizations are able
to discover things
about their future customers.”

Expect the first few tries
at new business development
to fail.

Don’t become emotionally attached
to those products/services
and
don’t become discouraged.
It is part of the process.
Failure is supposed to occur.