Research is the first step of any business plan

[Eodine]

Research is very important before starting a business. It's help the entrepreneur to known how valuable his product or service will be to the general public the range of amount people will be willing to pay for the commodity and also the best location for the business

It's very important to make research before starting a business not only business but anything as it would be wrong to jump into conclusions without knowing what is expected.

 

[Kelly5]

Research in business decision making is very paramount. You need to know the Pulse of the area you want to site your business on what is lacking that you think you can provide and maximize profits for yourself in providing that lack

 

[Kunkun]

Research indeed is the first step of any business planning, without proper research the business would face lots of problem down the line but when research is done right and effectively, it's possible to detect future problems and prepare for them when they arise

 

[Senator]

Apart from survey taking concerning your intended business proposal, you can also test run the acceptability of the product by running some ads on it on social media to test the waters and see the response the product will receive

 

[Eodine]

Research is very important before starting a business. It's help the entrepreneur to known how valuable his product or service will be to the general public the range of amount people will be willing to pay for the commodity and also the best location for the business

This, you have showed how important it is to do a market research but apart from a market survey I think that another way of getting information is by asking for customer feedback as they come for the goods or services.

 

[Shigobad20201]

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?

In using my own small business as an example, I am into selling baking ingredients and also baking too, when I wanted to get a store , I did a research on where to get a shop that will favour the market I am selling and producing, I realised after the research that I must get the store in a commercial area or close to the school hostels, because those are where I can make sales that will increase my market.

 

[BrolySSJ]

In using my own small business as an example, I am into selling baking ingredients and also baking too, when I wanted to get a store , I did a research on where to get a shop that will favour the market I am selling and producing, I realised after the research that I must get the store in a commercial area or close to the school hostels, because those are where I can make sales that will increase my market.

Close to a school hostel is a very good idea, especially for a baking shop as there are many students that actually crave these sorts of good. There was a baking store close to my school when i was young and it was quite successful because of its good location and competitive prices.

 

[Chibson]

Research is very important for any business to be successful. if you have a business and you don't make a research which means you will definitely not have enough knowledge on how to make the business successful. You need to have full knowledge of the kind of business are going into.

 

[Shigobad20201]

Research is very important for any business to be successful. if you have a business and you don't make a research which means you will definitely not have enough knowledge on how to make the business successful. You need to have full knowledge of the kind of business are going into.

Research is the only and important way you need to do in order to have a good business foundation and a successful business, you need to have enough knowledge about the business.

 

[Damscooguns73]

Concerning research being the first step of any business plan. Well, making research is very essential and key to any upcoming business. It helps prepare an individual for what is to come in the business, having some mentors too will really help also

 

[BrolySSJ]

Concerning research being the first step of any business plan. Well, making research is very essential and key to any upcoming business. It helps prepare an individual for what is to come in the business, having some mentors too will really help also

If you have a mentor in business is it is very important and very helpful as well because you'll be able to get real life experience and you'll also be able to learn from the mistakes of the past businesses as well.

 

[tyrim88]

The best form of strategy on the platform to place your business is the physical interaction you make with the needed users.With this you will be able to know where to focus on and build an efficient product and services.And Busineses that has been on ground can help you to know better customers prefrence when it comes to choice.

 

[Trexxxy]

I agree, I think every entrepreneur that is just starting have to do detailed research to get the proper and accurate information on the business, also to inform a better decision.

 

[Sheyemanu]

Well, in reply to the question in your above post concerning if research is truly the first step in any and every business plan, well, you are definitely right and i couldn't agree more with you as research is very important in business plan

 

[tyrim88]

You can help your research by talking to business owners who are running the same kind of business as you. They will tell you mistakes to avoid, best selling strategies and the best audiences to target. It's good to seek information from them because they have better experience than you and their advice will help you in the long run.

This is very true for any serious business entreprenue,because if he wants to do well in business he needs the experience of those who has been in the sector before him ,to short circuit mistakes and pitfall they made while they were starting.with that you will grow faster in that sector.

 

[cowantussie]

The business research process entails learning everything possible about a company's customers, competitors and the industry. The major objectives of the process are determining what products or services to offer, which customers are most likely to buy them, where to sell them and how to price and promote them. Various steps in the business research process help a company achieve these objectives.

 

[Alexandoy]

I agree, I think every entrepreneur that is just starting have to do detailed research to get the proper and accurate information on the business, also to inform a better decision.

Without the necessary information about the business the owner may fall into a trap called lack of knowledge. Even the operation will have many snags that would be difficult to resolve if there was no data gathering done in the first place. In any project much more a business research is paramount.

 

[Senator]

That is very important and correct. With your carrying out of research, you can come to tell yourself if you are ready or not to actually start out the intended business and also you have all the necessary details pataining to the intended business too

 

[Shigobad20201]

To me, knowing about the business you want to do is the first priority, after that you can now do more research concerning the business , how to set it up, where to set it up and how to get started.

 

[Setho]

This is very true. Before you start any establishment or a business you should always research your prospect to see if you have a chance to succeed in it.