Assessing the feasibility of business ideas

Among the many reasons for failure, except for administrative matters, the common reason followed by the business idea is not appropriate to not sell products and services.

In other words, focus on building businesses that do not research products to customer care.

There are many ways to the enterprise market research, accurately grasp customer tastes that are not costly for companies to market research professionals. Six of the following will help you determine the feasibility of business ideas quickly, accurately and economically.

There are many ways to the enterprise market research, accurately grasp customer tastes that are not costly for companies to market research professionals.

Ask yourself

The first step in determining market prospects for products and services that pose a few questions for yourself.

• Is the product / service out there I met the market demand?
• Who are potential customers? Where are they?
• The company will face any opponents? Directly or indirectly? It is in the range of local competition, national or international?
• My product different from competitors like?
• Does the product can stand the changing consumer trends?Products can be modified to suit the new situation or not?
• Products / services in accordance with the law?
• Price how much is appropriate? Is there a guarantee for profitability and customer acceptance?

Search information from internet

The internet and search engines are endless inventory of resources for you to search for and exploitation of information on markets, customers and competitors. You should use keywords related to products / services and search the many different tools. You should pay attention to the paid advertising as this is the website of the company operating on the same field. Walking around the social networking site, observing and collecting habits, preferences of potential customers. It takes a little effort but in return, you will have valuable information for free.

Feedback

Obtain direct feedback through surveys or interviews are another way to assess the level of interest, interest of customers with products and services. Consult your customers a quick way to test the feasibility of the product.

There are many online tools to help you make the survey a large number of customers and low cost as UserTesting.com, UsabilityHub.com, CrazyEgg.com, GutCheckit.com, and Ask Your Target Market.

You can also create a promotional video posted on YouTube and to test the "gravity" of the product. However, you should avoid those who consult familiar, family, friends, because people hardly impartial advice.

Provide product samples

It's hard to customer feedback or comments if you do not exactly try to customers and products. You can do some sample products and offers to show retailers, distributors, at the fair to explore the market.

Worldwide there are several sites that offer testing services such as new products Minium company Viable Product.The company created a series of micro-sites for many different companies selling products to customers right from the testing of them has not been brought to market. Similarly, Kickstarter page has a place for entrepreneurs to raise capital, both as a measure of "blockbuster" of services and products.

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