There are many away to research your business idea when you are starting up. Unfortunately many people don’t do enough research which can lead to problems – lots of competitors, p[ricing is wrong, not a clear idea of your market …
Terry Murphy from Grasshoppers Don’t Walk says “If you don’t know what people want, who wants it, how much they are prepared to pay for it, you probably won’t have a very successful business. It can be done through trial and error, but most of us don’t have the time and money to make too many false starts.
With thorough research, a business can be set up to hit the market effectively and with rapid take up.
If you don’t know your competition, you won’t easily be able to explain why a customer should buy from you rather than the business next door. As usual the programme is available on Listen again on Unity 101 with David Vane from SBGN and Lilly Aroroa from Unity 101
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