021
Validation
Business Intelligence
Traditional Market Research
As a new business we need to research the market to understand our customer, channels, competition and how we'll respond. You may be searching for data and statistics to substantiate your position and use in your spreadsheets. Key things to keep in mind are:1. Don't buy or pay for statistical or market data2. Reports, white papers, webinars, podcasts that certain companies produce may be misleading � they have their own bias. You can use them but be cautious.3. If you download free reports, look for the sources cited at the bottom on the page or near the end of the document. Often these links can lead to source data which is more valuable4. Look for government data such as BLS, NIH, CDC, SBA a. Government data can be a little older, but it's trustworthy5. If you are a student, you may have access to sources such as Nielsen and Nexis. Check with your teachers, librarians and even the public library6. Look for local data at your chambers of commerce, trade organizations, and municipal offices.7. You can look for surveys, customer panels, and other group data. Sometimes you can find amazing things simply searching on Google, so long as you are mindful of the source and that it is reputable. !!! The big caution is as you gather data about your market, don't hide behind the computer screen. Get out and talk with potential customers as often as possible. There is no substitute for primary research where you are in front of people and testing what they say vs. what they do.
Sponsored by
TASKS CARDS
Do First
You should complete the following tasks before proceeding to the current one.
Competition
Entrepreneurs often worry about competition. It is important but often not as important as you moving quickly, iterating and actively making progress day after day. If you are thinking about competitors make a list of who you might think is DIRECTLY competing with your business. Who is indirectly competing against you?The next question is understanding what you are going to do about it? Early on, just being aware is important and as a result you may change your value proposition a bit to even better serve your customer, but don't get into the habit of being 'Me Too' always trying to match your competition feature by feature or function by function.
Validation
020
No items found.
RESOURCES
Our Curated Resources
List of resources, subject matter experts, trusted partners, and tools that can be useful to complete the task.
article
Small Business Marketing 101: Using Email, Social, Video and More
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat.
Go to website
TASKS
Tasks Within the Stage
STAGES
Keep Moving Forward
Don't stop now! Just pick the very next stage-card that resonates with your business and continue working on the correspondent tasks.
