Have A Backup Plan

If at first you don't succeed...
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Don't be afraid to take risks-they often bring the greatest rewards. Just make sure you always have a backup plan. In case of failure, you have to be ready to change your strategy or the formula of the product to adapt to what the market wants. You cannot look at a product and decide it's a failure, when sometimes it's not. There may be little details in a product that are the cause of the failure, but not the concept itself. Try to find out what it is about your product that isn't working.

Excerpted from 303 Marketing Tips: Guaranteed To Boost Your Business

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Starting, buying, or growing your small business shouldn’t be hard. Guidant Financial works to make financing easy for current and aspiring small business owners by providing custom funding solutions, financing education, and more.

Latest on Entrepreneur

Entrepreneur Media, Inc. values your privacy. In order to understand how people use our site generally, and to create more valuable experiences for you, we may collect data about your use of this site (both directly and through our partners). By continuing to use this site, you are agreeing to the use of that data. For more information on our data policies, please visit our Privacy Policy.