Research the first step in any business plan

[kayode10]

It is very important to do research when you are starting a business. Market research will reveal the weakness of your competitors and expect them to your own profit.

 

[Mentor]

Knowledge and research is the best investment someone must do to succeed in any business, many businesses have fold up due to lack of research... So make a research of any business you want to do first

 

[Seno inyang]

Research, detailed research into the industry, customers, competitors, and costs of the business begins the process. Strategy. Calculate. Draft. Revise and proofread.

 

[Senator]

That is very correct if you ask me, research is truly the first step to take in any business endeavor whatsoever. There is nothing good that will come out in any business where there is no due diligence carried out on it

 

[tyrim88]

Knowledge is the best investment you would ever do to succeed in any business. So many businesses have crashed due to ignorance by the owners. Better to take time to research than to go into the business thinking your capital is enough.

Before any entreprenuer should go into any form of business,he should ensure that he carry out a thorough reserch and on the spot accessment of what it requires to do such a business.The research must be detailed enough.

 

[skyliequiz]

Such research assists businesses in understanding market demand and supply. Using such research can assist firms in lowering costs and developing solutions or goods that are tailored to market demand and the appropriate audience.

 

[Adebayonle7]

You are right, research involves carrying out a market survey to enable you understand the buying power of the people in an area and the kind of products they prefer, it also involves understanding the quality of the products or services you wish to offer and the best locations from which you can operate better. Research is very important before starting any business because it enables proper management and financing of business.

 

[Immilash1]

at starting a successful you need to have a good knowledge, knowledge second thing needed after having plans, when you don't have a knowledge the business easily crash down.

 

[Godspower]

Research and findings in a business is very important. Not only should you research the first step, you must study and analyze subsequent steps in order to set up a good business strategy and plan.

 

[Skysaint]

You're right about that. We should learn how to make research about the business we intend going into, that should actually be the first thing we do because most times it's not always easy as it seems or what we imagined it to be

 

[Abigael]

Knowledge and research is the best investment someone must do to succeed in any business, many businesses have fold up due to lack of research... So make a research of any business you want to do first

That is so true. Many businesses fold up because there wasn't enough prior research before it was started. So one should start with research, it guides your business plan.

 

[joy101]

Research is important in a business so that it will really help you to know more about business, and also to know how to start the business and the amount that you can use to start up the business.

 

[Kvngsammy]

Without carrying out not only proper research but also feasibility studies, that business is bound to failure because there'll be no headway in direction - it's like the captain of a ship driving without compass.

 

[Ub40]

You have put up a very useful information above. There is no doubt that research is the first thing to carry out before embarking on any business, but it is rather unfortunate that some people today still just wake up one day and decide to go into a business they know nothing about which mostly results in failure.

 

[Good-Person]

I guess researching and proper planning is one of the most important things any wise businessman would do when it comes to carrying out any kind of business. It is just not possible to get into any business. Otherwise, chances of suffering from loss could increase significantly. Experience also matters a lot in this regard.

 

[Justin]

Whether you are selling a hair pin or a Tesla car, you need to do a research. Your research should involve with checking whether there is a market for your products or not, and whether you can sell the product or not.

 

[Wiserr]

yes. research is the first foundation you need to lay before starting up any business. the research comprises of the things you need yo know before venturing.

 

[jay]

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 you don't research on the business that you want to start it is going to affect the business in a very big way because she will feel to get all the information that you need about the strengths and weaknesses of the business before you start it.

When you don't researcher very well on the business that you want to start is going to affect the business in a very negative way because you would like the information on the business strengths and weaknesses before you start it.

 

[eLdavis]

Whether you are selling a hair pin or a Tesla car, you need to do a research. Your research should involve with checking whether there is a market for your products or not, and whether you can sell the product or not.

That's true, what about in a situation where you have a passion for a specific business but after making research you find out you cannot sell the business at your location, what would you do?

 

[kinqzbitz]

Of course before going into any business you have to atleast research about the business and try to go for business seminars and also try to consult the experts in that business