Starting a business is a little like buying a car: You need to do some research before taking the plunge. First, figure out if there's demand for your product or service. Do a competitive analysis. Find a place to set up shop. And create a plan to differentiate your offering.
Doing your due diligence can mean the difference between success and failure, and it doesn’t have to cost a penny. Networking, online research, informal focus groups and other do-it-yourself methods can often do the trick.
How to Research Your Market for Business Startup
Marketing, business - How to Create a Marketing Plan
Firms that are successful in marketing invariably start with a marketing plan. Large companies have plans with hundreds of pages; small companies can get by with a half-dozen sheets. Put your marketing plan in a three-ring binder. Refer to it at least quarterly, but better yet monthly. Leave a tab for putting in monthly reports on sales/manufacturing; this will allow you to track performance as you follow the plan.
The plan should cover one year. For small companies, this is often the best way to think about marketing. Things change, people leave, markets evolve, customers come and go. Later on we suggest creating a section of your plan that addresses the medium-term future--two to four years down the road. But the bulk of your plan should focus on the coming year.
Marketing, business - How to Create a Marketing Plan
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