Market Research is the key to a new business becoming a
profitable entity. It anticipates and minimizes risk, identifies potential
customers and helps ensure success.
Finding customers is
the most difficult part of running a business and only about half of
new small businesses will survive 5 years. To ensure yours is a survivor, it is
vital to comply with the here-under instructions before
you invest your time and money in a new venture:
Ø
Learn how to research your market.
Ø
Identify potential clients.
Ø
Have a strategy for attracting them.
Market Research, or Business
Intelligence as it is sometimes called, is a vital weapon in ensuring your new
business survives to become a strong profitable entity. Therefore, don’t skip this important step in the rush to get your product
to market.
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