Research the first step in any business plan

[Ceeny007]

Research is simply a way to find out what a particular thing is about and what it involves. One might have a business idea but don’t know on how tou do a research and enter the business and at the end it fails, that why it is very important to do a market research on the business idea you have. In business planing you first have to do a business research so you will be able to know how you are going to attack the market and form good strategies and how to plan you business so it will go on for a long time

In economics we call it market survey,you find out your target market or audience,your strength and weakness, your competitors and other necessary data

 

[Josemendez]

In economics we call it market survey,you find out your target market or audience,your strength and weakness, your competitors and other necessary data

Most times people do not consider these things when they want to enter the cryptocurrency market , they are just concerned with the fact that they have the money needed

 

[Josh9493]

Research is the most relevant and the first plan that determine how the business will move ,without research is building a house with no plan .

 

[Senator]

I absolutely agree with you that research should be the first step in any business endeavor or project. If you carry out your research properly on that intended business, you'd have saved yourself from unnecessary and unforeseen situations that could have been avoided

 

[Chibson]

Research is very important whenever you want to venture into any business or Invest in anything. If you don't research you can not get certain knowledge.

 

[Tracee]

There is nothing wrong with researching on the business ideal you have, this prevents you over spending or even losses and also knowing what you are getting into.

 

[Buba]

Write your reply...searching the first step in any business plan is the step that every business man want to take to in prove his or her own business.

 

[Ceeny007]

Just like in operation research,the first step to solving a problem is to observe the problem first,then you analyze it and try to think of a solution

 

[tuna89]

You are right, the market research is very important, enables you understand the buying power and needs of the people you wish to serve. Makes you understand the kinds of products and services you need to offer.

 

[Chizfab]

Very right, in business we call it feasibility study, which stands as a means of determining if your product or service is viable. It gives you first hand material on how the business will strive or not strive, the problems, Weaknesses, strengths, threats and opportunities that comes with the business.

 

[eLdavis]

You are right, the market research is very important, enables you understand the buying power and needs of the people you wish to serve. Makes you understand the kinds of products and services you need to offer.

True, and these are the knowledge you need to obtain first before going into any business venture properly, if not you would end up loosing everything you have.

 

[Psalmseen]

Definitely yes! Research is very important. You really need to make a great research on whatever you want to invest on.. If you fail to make research, you're already digging a pit of failure.

 

[Heatman]

No matter how small any kind of business that you want to start is without detailed research into the business will definitely make it very challenging for you to succeed in that business.

 

[Lens]

Carrying out the feasibility studies is very important and it's the best thing to do before setting up a business. A business with no plans will definitely fail. If you fail to plan, you will are planning to fail. Business must be clearly guided with a clear plan. The business owner will need to follow the plans that we spelt out carefully.

 

[Setfragil]

Before you start any business, research is the first step to take to know the does and don't of the business. Research helps you to know where and when to to market tour products and make money.

 

[Ezekiel]

Most person get fed up of a business not because of money but because they had refuse to research bon the business they want to do,they are even ignorant of the major thingsnin the business

 

[Kelly5]

Before putting pen to paper on your business plans, you must need to carry out a thorough research on that business first. This is because it will help you in coming up with a better plan than just making the plan without doing some actual research

 

[Abigael]

Definitely yes! Research is very important. You really need to make a great research on whatever you want to invest on.. If you fail to make research, you're already digging a pit of failure.

Yeah, that is how important research is. It prevents you from failure and makes you make the right choices in investment and business. So one should really value research and survey before business.

 

[Richard92]

research is really important if you are starting up a business earlyy because it is with the help of the research that you will have an understanding of what you will face in the business you are going into,the research can give a prediction of the actual amount that is needed to run the business successfully. The benefit of research are too numerous to mention.

Yes that is true research is the first step in every business plan I have to make you so I can know how the business operates before going into it.

 

[joy101]

Research is very important in any business so to know what and what is needed in the business in order to know how you should plain about it.