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Study the Market before Venturing into Business

Many businesses fail because there are no markets available for the sale to happen. The technology might be gen-next, the product may be one of a kind but if people don't find a need to buy your product, your business is doomed. Mexican restaurants don't do too well in India. Why?

What is Business?

The text book definition of business goes something likes this - an organization or economic system where goods and services are exchanged for one another or for money. Academic definitions and descriptions certainly ensure that people (especially students) keep a good distance away from it. Business in reality is definitely not