While there are no guarantees in business, companies who manage to avoid the pitfalls above can at least ensure that their business has the best fighting chance of making it in today’s turbulent economy. Find out more articles on our blog! www.digimind.com/blog

1. How to Avoid
4 Common Causes
of Business Failure

2. 50-75% of businesses are destined to
fail within the first 3 years

3. If you repeat these common mistakes..
…your business is doomed to fail.

4. Too many businesses dive into new markets, introduce
new product lines or acquire new businesses without
carrying out the necessary market research or due
diligence
SOLUTION:
Carry out a full-scale market analysis by setting up a
web monitoring system
Conduct customer sentiment analysis to discover
reactions to competitor brands and to determine if
there is sufficient demand for your product or service
Avoid any major surprises which can derail your
business early on

5. There are so many instances where customer needs are
not given the priority they deserve, that it’s still one of the
number one reasons that businesses go to the wall each
year.
SOLUTION:
Track what your customers are saying
about your company or brand on social
media, web forums and discussion
groups

6. Companies who take advantage of the latest innovations
are the ones who manage to stay ahead of the curve and
achieve growth
SOLUTION:
Monitor the latest technologies available in
your market
Scan technology patents to see what’s
coming on stream in the future
Identify which companies master the key
technologies and you could envisage an
alliance or acquisition in the future

7. If your sales pipeline is running low you cannot possibly
sustain your business into the future.
SOLUTION:
Set up a 360 degree monitoring system which
will notify sales teams of the following events:
New investments in plants/facilities, New
products launches, New acquisitions, Personnel
changes etc.

8. Digimind is an online solution
which enables you to:
•Monitor changes to any online source
•Analyze unlimited data sources
•Share intelligence with your colleagues
•Automate the creation of powerful
reports and newsletters
•Create personalized profiles on
competitors, products, brands etc.
Read the full article on our Market Intelligence blog