subject: Starting A Small Business - Research And Development [print this page] Having the idea for a business is only the first step in starting a small business. A number things need to take place in order for a business to have the foundation it needs to be successful. Many people make the investment or set out with only the most basic of business plans. While there is a chance for success with this method, it is not the best chance of success. Taking the time to develop and research your business and product is essential if you want to build a business that is sustainable and profitable right from the start.
The first step is to determine exactly what the purpose of your business is. Is your business going to supply products or services to the community and if so what community or market is your business going to be targeting? Once this information is determined, it is time to research. Research is going to be one of the most time consuming steps in the process of starting a small business. It can however, be one of the most rewarding.
Learn everything there is to know about your products or services. Take the time to learn how the products are manufactured, where they are produced and what is used to make them. If you are making the products yourself consider looking into where the materials come from. It is also a good idea to learn about the target market who are the customers that are going to be interested in your products. Learning as much about the customers as you can helps you in the next stage of creating the perfect plan to starting a small business.
The reason you want to research first is primarily for marketing purposes. No business survives without marketing and good marketing can entice customers to buy even when they are not sure they want to buy. The purpose is to find out what appeals to the market and match that up with facts about the products or services that you offer. Customizing your business this way is a surefire way to ensure that you not only attract customers but keep them returning to your business.
Small businesses, especially in the start up phase need to get as much targeted exposure as possible. Internet marketing is one of the best ways, whether you are onsite, online or both to obtain traffic and interest in your product. The internet has become a replacement for numerous information gathering options including the phone book. Many people looking for a product or service do not head for the large book of numbers that used to be a part of the hunt, instead they head online where a few simple phrases and clicks will offer them a variety of options in their area.
Some of the marketing techniques that can be used include email, article, sms, promotions, link building and directory submissions and pay per click. Some of these techniques are going to work better than others and this is where the research comes into play. The more information you have on your products and customers the faster you can match marketing techniques with your customers to ensure a successful marketing plan.
by: Jimmy Cox
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