Homework before starting a new business

>> Monday, August 17, 2009

Interesting article with a small list of things to do before starting a new business or launching a new product.


"Research must be at the very heart of everything we do for our businesses.
(...)
Market research has to be our first effort if we are to create a successful business, because it’s only through finding what the demand is, what the price should be, how much competition there is for the sale, etc. that you can make an intelligent “go/no-go” decision.
(...)
The bottom line is that you must know what your customers want, how much they’re willing to pay, how many they’re likely to buy and who’s competing with you for that money. With that little bit of knowledge, you can choose whether to go ahead as planned or modify your product and test it again."


Starting a new small business - doing your homework
By Jim Fletcher, examiner.com


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