Soap businesses fail because their business model isn’t strategically planned enough. They think that the products will practically sell themselves because of how desirable the product is. Everybody uses soap so if there is a soap product that works well then the customers will keep coming back, is a common thought people have. It can really get expensive to keep customers coming back to use their products because there are so many out there that serve the same or a similar purpose.
- The first reason for failure is the small market for this type of product.
- Getting customers in this market is not as easy as it seems. Remember your competing against the big boys in the industry.
- Ditch your present business plan and revamp a precise business plan and mission. Show that your product is better than the rest.
“Not enough startups take the time to be silent and listen to their true calling. This isn’t some spiritual, airy-fairy stuff…this is what the most successful people in the world do. They put their phones down and shut their laptops and they create with only their minds, pen and paper.”