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Question
About one third of all new start-ups fail in their first years.Answer
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A narrow scope strategy reduces the risks associated with competition.
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First movers suffer a cost disadvantage as they are not able to move down the experience curve.
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The U.S. Chamber of Commerce and Small Business Development Centers are good places to get information and assistance in starting a new business.
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Patents filed with the U.S. Patent Office:
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In the concept stage, the refined idea is tested to determine consumer acceptance.
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