Naz
Active member
Small business tends to start because of “the right business idea.” Very often, the concept does not exist yet.
It’s easy to come up with a business idea if you’re already in a different industry, such as entertainment, software, pet care or design.
To start, you can get in touch with friends, contacts or family. Often, the ideas that surface in conversations are good. However, if it’s a business idea you’ve never considered, don’t give up hope, you may have a winner. You may need to do research on your idea to get ideas.
Your skills can be put to good use in a new industry if you decide to start small.
The more you try out and think about starting a small business, the better prepared you’ll be to get your feet wet.
Most small businesses begin with a little market research, either online or offline. Do your research to learn what the market offers, and the challenges they may face. Remember, being competitive doesn’t necessarily mean you have to be big; it means you’re already there.
The key is to build relationships. Go where your customers are – in public places. You can go to coffee shops, supermarkets or bars to get feedback on your new business concept.
Some of the ways you can do market research include:
Talk to your customers or target audience.
Learn about what’s new in the market, how it’s evolving and what their challenges and priorities are.
Host a series of business workshops or courses that your target market would be interested in.
Ask for feedback, as your customers will be your biggest assets.
Visit local marketplaces. Most e-commerce stores do market research there. You can also visit small mom and pop stores, such as at a shopping mall.
Research your target market. You can narrow down your target market to a specific age group, gender, or occupation.
It’s easy to come up with a business idea if you’re already in a different industry, such as entertainment, software, pet care or design.
To start, you can get in touch with friends, contacts or family. Often, the ideas that surface in conversations are good. However, if it’s a business idea you’ve never considered, don’t give up hope, you may have a winner. You may need to do research on your idea to get ideas.
Your skills can be put to good use in a new industry if you decide to start small.
The more you try out and think about starting a small business, the better prepared you’ll be to get your feet wet.
Most small businesses begin with a little market research, either online or offline. Do your research to learn what the market offers, and the challenges they may face. Remember, being competitive doesn’t necessarily mean you have to be big; it means you’re already there.
The key is to build relationships. Go where your customers are – in public places. You can go to coffee shops, supermarkets or bars to get feedback on your new business concept.
Some of the ways you can do market research include:
Talk to your customers or target audience.
Learn about what’s new in the market, how it’s evolving and what their challenges and priorities are.
Host a series of business workshops or courses that your target market would be interested in.
Ask for feedback, as your customers will be your biggest assets.
Visit local marketplaces. Most e-commerce stores do market research there. You can also visit small mom and pop stores, such as at a shopping mall.
Research your target market. You can narrow down your target market to a specific age group, gender, or occupation.