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Have A Backup Plan

If at first you don't succeed...

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