This is the seventh part of our Smart and Simple Guide to starting a business. We've already covered ideas, business concept, funding, family, naming, branding and competitive research. And now we come to a topic that is at least as important as all of those and one that can prevent you from making critical mistakes that will doom your business. Market Research.
You hate it. I hate it. Everybody hates it, but it is crucial. Here's why.
One of the critical steps to business success is figuring out who your customers are and how to sell to them in a way that will make you a profit. By now if you have followed along on the first six steps of this guide you should have a clear idea of what you want your business to be - and that means you have also built a picture in your mind of who the customer is, whether you realize it or not.
But having a picture in your mind isn't good enough. You have to know clearly who they are and more importantly, how many of them there are, how you will reachRead More »from Customer and Market Research – Necessary but Overlooked steps for the Entrepreneur