Page 20 - 57802 Summer 2020

The #1 Mistake

Business Owners Make

by Brett Fogle
Featured Contributor

Did you know that 95% businesses fail? According to the
Huffington Post, 90% of online businesses fail within the 1st

120 days. This is an alarming statistic, yet we’ve found that this

is entirely avoidable by avoiding the #1 Mistake Most Business
Owners Make When Starting a Business.

We’ve identified not only the #1 reason 95% of online businesses

ultimately fail, but also a 9-step sequential process and formula
you can use to avoid new business failure.

It’s called MP5MS2 and there are As we go through this, pay att enti on Now that you’ve identified a hot

the 9 essential steps in the formula. to why fi nding a hot trending Market trending Market and found the right
But you have to do them in the is the most valuable and important People, (Your ideal client or your
right order. Most people start with part of this whole process. It literally ideal prospect) and how to reach
a ‘product’ or service they want to can be the diff erence between them… Only now should you be
sell, without really knowing if there your success and failure. Finding a choosing a Product to sell.

is a market first. hot trending Market is the first and

most important step in our MP5MS2 Product (The What)
We can compare the first six steps success formula.

of our formula to the familiar Who, This is where most people start, and
What, Where, Why, When and How People (The Who) why 95% of businesses fail, because
questions as a way to make it easier they start with a Product idea that

to understand and more familiar. Next, we’re going to focus on People ulti mately nobody wants. So, once
We’re going to start with when, or and why it’s so important to be able you’ve identi fi ed a strong Market,

market. to identify, locate, and isolate the and you’ve identi fi ed People in that
right People in your Market to sell Market that wants your Product or

Market (The When) to. It’s imperative that you’re able soluti on… Now you can focus on
to find where they are because if the Product side of things, which as

Market is the “When” to sell. All you can’t get your advertising or you can see, is the What to sell.
markets are cyclical, and isn’t it true your message in front of the right
that some trends come and go, only people, it’s like that old analogy, “if Most people start at the wrong point
to come back around again? But a tree falls in the woods and there’s in the process—at the What to sell,
mostly, new market trends become nobody there to hear it, does it before identi fying if anybody cares

‘hot’ at various times, and that’s make a sound?” or will even want it. Instead, figure

where you want to focus—on where out what you can offer that solves a
people are already looking to spend You can have the best product or problem somebody already has, and
money. service in the world, but if you can’t is looking for a soluti on to.
get your message in front of the
Not starting with a strong Market right people, and they never see or The next six steps are equally as

is the biggest reason why 95% of hear it, will your product ever make important to get right, so we’ve
businesses ultimately FAIL, because a sound in the marketplace? Not created a Free Report you can

they start with the What (Product) likely. download as a free resource
first and not looking for a hot here: www.clickandgrowrich.

trending Market. com/1mistake

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