As a famous scientist once responded to a reporter’s earnest question: “Research is what I’m doing when I don’t know what I’m doing”. As entrepreneurial-minded people, we would be well advised to listen to this simple wisdom.
Market research is more than the analysis of raw data. It is the opportunity to look outside your company to factors that may affect your success.
Research often begins with a guess, sometimes an informed guess based upon your observations, experiences, and belief system. Often the process of gathering information can feel counter-intuitive, especially when research indicates something other than what you believe.
Contrary to popular belief, market research is subjective — and that’s o.k. Your entrepreneurial vision becomes both a filter and a framework for reviewing information. The process begins with an idea or a passion. Then we conduct research to determine if the idea has merit. We…
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