Research the first step in any business plan

[Heatman]

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.

Without the knowledge and information that you get from carrying out research on the business you want to do would make good sense for the business survey and survival.

 

[Justin]

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?

When I start a business I will consider my passion first and secondly, I will see the commercial value. If one of these two is lacking, I will not start the business

 

[Partisan]

A good research will help you start a good business because it will help with the choice of the business you are starting and also help to generate and calculate a log of daily interest from a particular location

 

[eLdavis]

When I start a business I will consider my passion first and secondly, I will see the commercial value. If one of these two is lacking, I will not start the business

Wow, which means you won't go for your passion? Or look for ways to make it work? Though I completely understand your point of view.

 

[Elfinito]

Through research you would also be able to know what to go into.
A lot of businesses crash because people don't make research.
You cannot just start a business when you don't know what to produce and who you are producing for.
But through research you would be able to determine what your environment needs, what is their demand on everyday basis and through this, you would know what to do to be successful

 

[Justin]

Wow, which means you won't go for your passion? Or look for ways to make it work? Though I completely understand your point of view.

I do not want to become bankrupt by exploring my passion and I will not do anything just purely for money. I will try to seek the middle path where the idea my passion and also makes money

 

[Good-Person]

I think this a very valid point that research is the first step to any business. This is true because you must have seen that there are ways a certain business runs that wants to make you find out how that was possible. And you can only do this through research.

The sad thing is that many people do not conduct research and get into business they know nothing about and they eventually end of facing loss. We must conduct thorough research before starting any business.

 

[eLdavis]

I do not want to become bankrupt by exploring my passion and I will not do anything just purely for money. I will try to seek the middle path where the idea my passion and also makes money

Nice one, I believe this is one of the reasons why most persons give you along the line. They simply do not have the passion so along the line they loose interest. Or what do you think?

 

[greenie]

Research is really important at the begginning of the business. There is alot you need to know first like the market value, perfect location for business, existing competition and the needs of potential customers among others. This can be obtained through research by observing, carrying out surveys and having an experienced mentor to guide you.

 

[Thinker009]

The sad thing is that many people do not conduct research and get into business they know nothing about and they eventually end of facing loss. We must conduct thorough research before starting any business.

Yeah definitely you have to conduct research and put more seriousness because it's part of what would add to the development of your business and contribute more to the growth of it ,that's what lot of Business needs

 

[Good-Person]

Analyzing the market and location is also one of the key aspects of research. You cannot open a restaurant that is only for vegetarians when you know that majority of the customers in your area like to eat meat. So you must know what people want and like to consume in your location or area.

 

[Kaffyfolla]

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.

 

[tyrim88]

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

Just like in any other venture or sector,the need for research is very important,because for you to identify a solution to a problem,the issues needs to be found out first,and that is a function of a proper research.

 

[Sotherefore]

You will have to research to know the best way to establish your business to succeed as much as possible because that is very important. it is not easy for you to establish your business and after so much commitment, the business is not successful. This is not a funny experience.

 

[Syldan]

Research is very important and it's the only way through which you can know much about a particular business that helps you to know when to start, how to start and how to go about running the business and were it should be done.

 

[Ghost1]

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.

Research is as important as Capital. Some people run away from this especially when they are told to pay inorder to acquire the knowledge. This is so bad

 

[Sincerem]

You will have to research to know the best way to establish your business to succeed as much as possible because that is very important. it is not easy for you to establish your business and after so much commitment, the business is not successful. This is not a funny experience.

I cannot engage in any business without proper research on the business. All these things are just for us to try as much as possible to prevent any possible cause of business failure in the future.

 

[Chibson]

The first step towards making money or be successful in any business is research. you actually need to make research ranging from the location in which you want the business to be situated and you also need to make research about the competition around the business in that environment. You also need to make research on the demand of the product you want to be selling.

 

[Shigobad20201]

Having your business plan is the first thing you need to-do and after that , you need to work on the plan by making the necessary research on how to make the plan works ,

 

[joy101]

Yes that true because research let you know everything you should and want to know and it is also important in the running of the business

For me research is very important to any business for one to understand the business full well, that is why when going into business is really good to do business research so to have full knowledge about the business.