(And Very Doable And Practical Too!)
Have you noticed. Far too many profit seeking entrepreneurs. Spend way too much time, money and effort.
Working in, but not on their business or service. If instead, they (or you!) Where to start appreciating how and why a little investigate work.
Is definitely what makes research very strategic. Because you or your major competitors. Are at least attempting to remove the guess work, correct?
Entrepreneur Now Is The Perfect Time To Develop A Workable Plan!
By now hopefully you do. Or you should appreciate! A so called “can’t miss product or service.” Is actually the equivalent of putting the cart before the horse.
Because if your formal or informal research. Doesn’t indicate there are enough people. (your potential market.) Who have indicated they’re willing to support your product or service.
It doesn’t matter how much time, money or effort has gone into creating it. More than likely. It will not be as successful as products or services s\with adequate demand.
There are at least 5-7 basic questions. Which definitely should be answered. Being as brutally honest with yourself as you can possibly be.
Entrepreneur. There could literally be tens of thousands. Or hundreds of thousands of fish in any given lake. But if they don’t like. Or have little or no appetite for the bait you’re offering. You simply won’t catch that many fish. (Pretty basic stuff, right? 
How To Make Sure You’re Growing At The Right Pace!
Here’s a couple of questions to ask. And depending on what your brutally honest answers are. You’ll at least have a pretty good idea. Where to go from here. (And extremely important note: Your initial answers don’t have to exact! Just as honest as possible!)
1.) Do you know if there’s already too much competition in the particular niche. (Not market!) You’ve chose to try and compete in?
2.) Have you discovered at least 2-3 readily identifiable weaknesses. Your major competitors products or services already have.
Which you can leverage to increased visibility and gross front or long term back end profits?
3.) Have you even bothered to calculate how much of the specific initial front end market share you definitely need to capture.
So you can at least break even on your front end? (Do you really know how and where to start?)
4.) Have identified certain potentially profitable segments in your immediate market? Which your particular knowledge, skills and resources. Will be able to meet these underserved needs.
5.) And finally… Have you identified a potential group of vendors you can form some potentially profitable Joint Venture (JV) revenue sharing arrangement with?
Entrepreneur, all this and so much more. Should prove to you what. Makes research very strategic. Don’t you agree?
Don’t Or Stop Leaving Things Strictly To Chance!
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on marketing your small business or service. I Recently appeared on.)
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