Gunderson Denton & Peterson Logo Sized For Mobile Browsing

480-655-7440

Mesa AZ Business Lawyer
  • 1930 North Arboleda, Suite 201
    Mesa, AZ 85213
    480-655-7440
    40 N. Central Avenue, Suite 1400
    Phoenix, AZ 85004

  • Please leave this field empty.

  • Gunderson, Denton And Peterson Office Locations


    View View Gunderson, Denton And Peterson Locations in a larger map

    Legal Assistance With A Positive ROI

    Ways to Failure Proof Your Phoenix Arizona Business

    How To Failure Proof Your Commercial Business in Phoenix, ArizonaLaunching your own Phoenix Arizona business can be exciting. It’s an adventure that not everyone embarks on, and the rewards can be great. But it is not without its risks.

    There’s all that time and money you have invested into the business, and if it fails, it could all be for nothing.

    Luckily, there are some ways to test your business to minimize the risk of failing even before you officially launch. Here are 4 strategies you can try to failure proof your business in Phoenix Arizona.

    1. Test it out with a venture capitalist.

    Venture capitalists are investors who provide money for small ventures. In general, they know their business and are honest with business owners. If the idea isn’t good, there’s no way a venture capitalist will invest in it so pitching your idea to a venture capitalist is a good way to find out if your idea is good or not. Bring along your business plan and demo product to your meeting.

    2. Show product retailers your product prototype.

    Product retailers know what they are doing when it comes to products — they know what consumers want. Seek the opinion of product retailers if you are planning to sell products. Visit a retail store that sells similar products and talk to the purchasing manager to see what he or she thinks. Bring a prototype or even a drawing if you don’t have a full prototype. If you are lucky, the retailer may love your idea and want to sell your products once you launch your business.

    3. Try to get your idea licensed.

    Even if you are not planning to license your idea, you can get some valuable information from trying to get it licensed. If you pitch the idea and potential licensees like it or seem intrigued, take it as a good sign. It is their job to know a good idea when they see one. If they don’t like it, ask for feedback and go back to the drawing board.

    4. Gather consumer feedback.

    Getting honest feedback from the people who will eventually be buying your products or using your business is a great way to see if you can be a success. Go beyond asking your friends and family, and test the idea with your target demographic. Conduct surveys, product demos and split testing to find what consumers like about your business or product, and more importantly, what they don’t like.

    Starting up a Phoenix business is a big endeavor, and one that requires a lot of research. Before you go launching your new business, try out any or all of these 4 strategies to help you minimize your chances of failing. If you need any legal advice regarding your business venture, please contact the Phoenix business lawyers at Gunderson, Denton & Peterson, P.C. today.

    Author Brad Denton Written By:

    Gunderson, Denton & Peterson, P.C.

    Mesa Office:
    1930 N. Arboleda, Suite 201
    Mesa, Arizona 85213
    Office: 480-655-7440
    Fax: 480-655-7099
    Email: brad@gundersondenton.com
    Website: http://gundersondenton.com

    Phoenix Office:
    40 N. Central Avenue, Suite 1400-1532
    Phoenix, AZ 85004
    Phone: 480-325-9937
    Website: http://gundersondenton.com/phoenix

    [jetpack-related-posts]

    Leave a Reply

    Meet Our
    Business Attorneys

  • Arizona Business and Franchise Lawyer Brad Denton
    Business Litigation Attorney
    business lawyers and real estate business attorneys
  • GDP Business Blog

    Business With Friends

    Deciding on a Business Structure

    A Rose by Any Other Name Might Not Smell as Sweet: The Process of Choosing and Protecting a Business Name

    Structuring Your Business Sale To Avoid An Unexpected Tax Hit

    Eight Questions to Help You Find the Target Market for Your Business

    Top Mistakes When Launching A Home-Based Business

    How to Plan Your Arizona Business Plan

    Business Startups: How to Pitch Your Idea to a Venture Capitalist

    Six Ingredients to Make Your Startup Business a Success

    Six Qualities to Look for in a Business Lawyer

    Three Steps to Choosing a Name for your New Business

    Seven Steps to Developing a Marketing Plan for Your Business

    How to Protect Your Intellectual Property

    Ways to Failure Proof Your Phoenix Business

    How To Convert An LLC To A Corporation In Arizona

    Does Your Startup Arizona Business Need a Patent?

    Non-Compete Agreements in the Sale of a Business

    Liability of Owners in Various Business Structures

    Small Businesses Feeling the Impact of the Government Shutdown

    Using a Letter of Intent to Reduce Risk in the Process of Purchasing a Business

    What Does it Take to Make a Binding Contract?

    Forming a Startup – Important Questions Co-Founders Should Ask First

    An Exit Plan for Your Business

    General Business Law at Gunderson, Denton & Peterson, P.C.

    Introduction to Gunderson, Denton & Peterson, P.C.

    How Business Owners Can Minimize The Cost Of Divorce

    The difference between a contract that falls under the UCC and one that does not and why it is important to you

    Problems with Decision-Making in an LLC

    Finance Options for Your Business

    Why Should Your Company Not Go Public?

    How do I buy an existing business?

    How Business Owners can avoid Personal Liability if others attempt to Pierce the Corporate Veil

    LLC Publication Requirement – present and future

    • Get Linkedin Mesa Arizona Lawyer
    • Legal counselors Facebook
    • Mesa Arizona Lawyer Twitter Account
    • law feed, legal advice, blogs and more
  • [toggles speed=500][toggle title="SITEMAP"][wp-blogroll showdesc=1 showbrk=1][/toggle][/toggles]
    contact@gundersondenton.com
    1930 North Arboleda, Suite 201
    Mesa, AZ 85213
  • Privacy Policy
    Design By Mesa Web Designer MFWD