Research is the first step of any business plan

[Tariq Shehzad]

This initial segment launches your business and momentarily traces the central issues of your business plan. The objective here is to clarify what your organization does and why it will be fruitful.

 

[Muhammad hussain]

Yes, I think it's okay to do a complete business before any business is done and search before it is done.Doing a search also gives us an idea of whether or not this business will move forward in the future. That's why it's important for me to start searching.

 

[Waqas wajid]

I think before we do any business, if we do a little research for this job, then it is easy to do that business.Research is a way to find out where the business is headed. There is a step that is done in the business and by doing this we know the interests of the people on Android.

 

[eojo2401]

If you start any business enterprise without conducting proper and necessary research, the probability of failing is ninety nine percent. Research will guide you on what to produce, where to produce, how to produce, who are the targeted buyers and who are your competitor.

 

[Oluwasayofunmi]

Answering the question on Research is the first step of any business plan, for any business to become successful, one has to make a research on the business, so as to know what the market is saying about the particular business one is going into

 

[Ayoknl]

Research truly is the first step to any business plan, this include getting information from both online and offline regarding the feasibility of the business, demand of the supposed product or service, availability of labours/staff and so on

 

[Adventurer]

There are many businesses that are introduced into the market on a constant basis and each one of them is in that meeting specifically need or want that has been identified within a community or region. However, in order to be able to identify and his needs and wants one needs to be able to do research within their community. This research will involve finding out from people how they are likely to be exposed to marketing for their product and in this way they can maximize their marketing strategies. Also, it is important when it comes to deciding what product is going to be sold. Through the interaction with people of the community you are able to gather a lot of information about what they need, and you can place your business model on this.

There are many that feel research is something that only happens by your online methods. However, this sort of research requires interaction which can be achieved through possible surveys that you can conduct.

Apart from surveys what other methods do you think that businesses can use to obtain information about their upcoming business plans?

Market research are the major ways to get information as you can speak to people and be enlightened, you can also take a look at your competitors business model that also gives you insight about the business you're about to venture into.

 

[Sadia aslam]

As you are right, research is the first step in doing any business. Searching lets us know about the business.We know what people like and what we don't. We know people's interest in the market.Research also shows what is going on in the market today

 

[Mahnoor]

All of the activities you choose for your strategy come as some cost and (hopefully) lead to some revenues. Sketch out the financial situation by looking at whether you can expect revenues to cover all costs and leave room for profit in the long run. Begin to insert your financial assumptions and startup costs into a financial model which can produce a first year cash flow statement for you, giving you the best sense of the cash you will need on hand to fund your early operations.

 

[Prettyjanie]

I totally agree, before you come up with any business plan for a particular business you intend to go into, you must have conducted your research so as to know how you can go about your business. You cannot execute a business plan successfully without having undergone a research.

 

[Husnainali]

The sequence of steps involved in the business research process are as follows: problem/opportunity identification and formulation, planning a research design, selecting a research method, selecting the sampling procedure, data collection, evaluating the data and preparing the research report for presentation.

 

[Esther]

Research is very important so yes research is necessary when starting a new business or about to start. Go into the market know your consumers ,know what business to venture into before going into it , know all the requirements the rules and regulations. Very mandatory.

 

[Luckboy]

The importance of market research should never be underestimated, especially for those starting a new business. ... From getting to know your target audience to exploring potential competitors, market research gives businesses a competitive edge, allowing them to thrive in new environments.

 

[Victakin83]

It is of utmost importance to make a research before venturing into any kinds of business be it local or international, research will make it possible for you to know whether the business will be profitable for you or not, it will enable you to make a better prediction about the business, after a good research about a business you will know your money with you will be enough or not, and it will help you know whether the business will make a sale on your location.

Research is the first step of any business plan. I totally agreed because without proper research one will just venture into wrong business. So to know the right business to start with you need to plan very well.​

 

[Sanusi]

Yes research is the first step of any business plan, before any kind or varieties of business can workout you need to make a serious research. Research is very essential because it determines the outcome of how to execute the business.

 

[Muhammadawais]

The sequence of steps involved in a business research process are as follows: definition and development of the problem/opportunity, preparing a research design, selection of a research method, selection of the sampling technique, analysing and reporting, evaluation of the data and preparation for presentation of the research report.

 

[Dammy]

Before starting up a business, it is important to carry out feasibility study to ascertain how feasible the business is. It is during the cost of the research that facts about how feasible the business is will come out as well as other facts such as the challenges that may likely be encountered It also include getting information fry those already on the business. These will inform our final decision about the business

 

[Praaizz]

It will be a terrible wrong move for anyone to jump into a new business without having to research on that line of business first. Research is vital for the success of any new business as it help you avoid wrong choice among other benefits. Asking existing business owners in that lime of business will a great note to start with.

 

[Chumzy]

For a standard business plan that meets all necessary requirements for business. Research should be the top and most important step when preparation begins. Research is good to ensure that everything and anything the business wants is possible.

 

[Profwriter]

Proper and diligent research is the first step towards the writing of a business plan, your research findings based on the needs of your community will guide you to provide the solutions to the needs of the community. You don't build an airport for air ship