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Start Up Kit
Make sure there’s a market
05.11.2009
One of the biggest mistakes many entrepreneurs make is to start a business based on their personal interests. While there's a lot to be said about following your passion, you need to make sure that if you have a product or service you want to launch that there is a market for it, according to sales and marketing expert and author Krisha De.
A little research can save a whole lot of heartbreak. Discovering what your potential clients and customers want, need and will be prepared to pay for will give you a head start on launching your new business.
There are lots of ways that you can undertake research, from face-to-face meetings, to written questionnaires to online surveys using tools like SurveyMonkey.com, PollDaddy.com and ConstantContact.com, which have both free and paid-for options.
You can then use the results of the survey to help you determine the products and services that you can offer your potential clients.
Another great way to give your new business the best chance to succeed is through joining a network of fellow entrepreneurs who are in a similar situation where you can share ideas and be a support to each other.
Starting your new business requires courage, resilience and a fair sprinkling of luck, so surround yourself with people who are positive, encouraging and who can help you keep on track when the going gets tough.
There is also a wealth of formal assistance on how to start a business through training programmes and working with a business mentor. These types of resources are available in the community from your local enterprise board who provide ‘Start Your Own Business’ workshops and have experienced business mentors who can provide guidance on how to fund your business, writing your business plan and guidance on sales and marketing.
Starting your own business can feel daunting but with the resources and support available today, there may never have been a better time to become your own boss.
Krishna De is Bizstartup.ie’s sales and marketing expert. To find out more about her, go to ‘Meet the Experts’ in the Ask the Expert section.
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