Saturday, 25 August 2012

Think with your eyes wide open

It was great to read the news today that a report has revealed that more people are thinking of starting a business than ever before.
Perhaps with the current economic climate this may be forced on some people, but from the work we undertake with startups, then their certainly appears to be a higher level of positivity for entreprenuership.
We meet and talk to many people with an idea and the desire to run their own business. Quite often they have mentioned it to family and friends and as you would suspect many encourage them.
However we encourage you to enter the initial considerations with your eyes wide open and undertake good market research to establish there is a market for your product or service.
Quite often you have to push your comfort zone with market research, but look to ask your 'ideal customer' how much they pay a possible competitor, why they buy from them and how often.
This information is critical to help you build you business plan, forecasts and strategy.

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