My friend, entrepreneur Marc Kramer has started about 20 businesses. Some have succeeded, others have not. Among his start-ups, I asked him if he got signals early on the he had a clunker on his hands, and if so, what the signs were.
Generally, he said, he knew within about 120 days whether or not the concept is going to fly. Here are some of the sign posts he saw along the way that informed his thinking.
Little word of mouth. Kramer says word of mouth is the ultimate acid test. “If consumers are using your product, and are not excited enough and satisfied enough to tell friends, family and colleagues about it, your product or service is unlikely to succeed.”