Research, Research, Research – SB009

Find the Right Biz for You Series (Part 8)

Now that you know what business you would like to start, Should you make the leap into small business ownership? Make sure you’ve done all of your research before making this decision. 

Whether you are in the process of deciding on your business idea or have already made the decision and are working on the market research section of your business plan, follow along for a variety of resources for beginning your search.

Three Areas to Explore:

  • The Industry
  • The Competition
  • The Clients/Customers

Sources of Information:

  • Industry groups and associations
  • Industry publications, articles, and newsletters/blogs
  • Industry conferences
  • Visit the competition and evaluate – Online and In-person
  • Local Chamber of Commerce
  • Local library
  • Connect with someone already successful in the business
  • Share idea and get feedback from supportive friends, family, and colleagues
  • Develop list of potential customers and survey:
    • Online, phone, email surveys
    • Focus group

Free eBook: Passion to Prosperity: Finding Your Ideal Side Business

If you would like more information about how to find your ideal small business, please help yourself to a free copy of my eBook: “Passion to Prosperity: Finding Your Ideal Side Business”. Although it was written with side businesses in mind, the process for determining your own small business is very much the same.

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