Research is the first step of any business plan

[Shigobad20201]

In

It is really of the utmost importance to take the survey before starting the business. Another way to do this research is to send people to neighboring businesses in relation to the company that you want to start and carry out a search and observation of brands and prices. This way you will have other important information

In order to have a successful business outing ,one must first do a thorough investigation and research on the business you are trying to start by check in on the environment to know more about the business.

 

[Sotherefore]

what i actually meant is in a situation where you must have done all your research and feasibility study,and what i meant was in parspective.Reason for this is that it would help you not to make the same mistake those who are into the sector has already made.

Ok I know that consulting people and seeking their help when you are about to start something is actually one of the best option ,but do you think it is reliable for you to only act based on the advice of people who have been in the business ?

 

[Snazzy001]

Research is one important aspect that helps give an insight of what you should be expecting and what not to be expecting. In your business plan try to include research because it is very important

 

[Ghost1]

Well, I believe capital is the first step of every business... You can't be researching what you don't have money to start. Get the money then research how to with the available resources

 

[Psalmseen]

Definitely yes. Research is a vital part or process of starting a business. You really need to make good research about the business you wanna go into. Know your business well, so you'll know how to tackle problems when they arise

 

[Alexandoy]

Well, I believe capital is the first step of every business... You can't be researching what you don't have money to start. Get the money then research how to with the available resources

You may be right that capital is the first but usually it is the idea that comes first. Now you have to decide if you will gather funds for the capital or would do the research first. My take on that is that the research comes next to the idea. That research will determine the amount of capital that you will need.

 

[tyrim88]

Ok I know that consulting people and seeking their help when you are about to start something is actually one of the best option ,but do you think it is reliable for you to only act based on the advice of people who have been in the business ?

When it come to the issue of business which is more of practical engagement,you add among other things the experience of those who has been on the terran,but you learn more as you are on the field,as this will also form part of your experience.

 

[Kelly5]

Having a proper understanding and also how to get this proper understanding and knowledge on any business endeavour you intend to go into is very key for any business success of any kind

 

[BrolySSJ]

Having a proper understanding and also how to get this proper understanding and knowledge on any business endeavour you intend to go into is very key for any business success of any kind

Many people tend to only look at a business from a theoretical standpoint, thinking that this is the key in order for them to make a profit, however there is many technical knowledges that can only be obtained from experience.

 

[Sotherefore]

Having a proper understanding and also how to get this proper understanding and knowledge on any business endeavour you intend to go into is very key for any business success of any kind

People that are not researching on the type of business they are going into has at least 75% possibility of having a business failure, research to understand a lot of things about the business is absolutely necessary.

 

[nimzy]

That's absolutely right. research is the first building block of every form or kind of business. you most have to undergo research on the kind of business which you want to invest to have a better knowledge and understanding about how it works.

 

[BrolySSJ]

That's absolutely right. research is the first building block of every form or kind of business. you most have to undergo research on the kind of business which you want to invest to have a better knowledge and understanding about how it works.

I think many people also take for granted that they have seen a business in action and as a result do not need to do as much research however it is a very different scenario when you are actually involved in the operation of the business.

 

[Setho]

It is very important that you have made a research and is conversant with a lot of things about the industry before trying to set out a business plan.

 

[BrolySSJ]

It is very important that you have made a research and is conversant with a lot of things about the industry before trying to set out a business plan.

I agree and the industry is constantly changing so i think that even if you do have a business already that you should also try and, as far as possible, continue to research to see any new developments that could help your business.

 

[Kubiat-Abasi]

I quite agree with this notion. Research is a step in the right direction. It is part of planning and critical thinking.

 

[Ceeny007]

There are other factors that has to be considered such as strength, weakness opportunities and threats to the proposed business

 

[Ezekiel]

It is not proper to wake up in the morning and feel like starting up a business and you just begin without proper business plan to guide you in the business

 

[eLdavis]

It is not proper to wake up in the morning and feel like starting up a business and you just begin without proper business plan to guide you in the business

LoL one would just crash land. Starting up a business without proper research or business plan, might lead to making wrong decisions and choices. It's best to take your time and make all the necessary arrangements and planning before going into the business.

 

[Heatman]

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?

Exactly, researching into any business that you want to start is something that is going to give you all the detailed information you need to know about the business before you jump into it and I don't have to make a drastic mistake.

 

[Josan]

You're completely spot on, that's the first step to be taken in a business. That is to say if you don't have any passion to invest in a particular thing and even if you have the passion, research is very vital.