Best Practices for Developing a Winning Business Concept

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Best Practices	Statistics
Market Research	80% of businesses that conduct market research have a higher chance of success
Unique Value Proposition	Businesses with a strong unique value proposition are 30% more likely to succeed
Target Audience	Businesses that clearly define their target audience see a 40% increase in sales
Competitor Analysis	90% of successful businesses regularly analyze their competitors

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Authentic source of data: Industry Research Report 2021