Researching Business Opportunities: Find-a-Career Series
I wish researching business opportunities was as easy as exploring career choices. Lack of information is not the problem. It’s that much of the information on business opportunities is biased. Quality business forecast reports often cost money and the free ones are usually just trying to sell you something. But there is information out there, if we look.Check out Tim Berry’s excellent article “Market Research” on BPlans.com. Tim gives you several sources for starting your research on various business opportunities. It will require some work, but the time spent understanding the market and future potential is well worth it.
Write down the key information you learn about each industry during your research. Some questions you will want answered are:
1. Who are your customers?
2. How competitive is the industry?
3. What is required for startup?
4. What resources and skills are necessary?
5. What marketing strategies are effective?
6. Who are the potential suppliers?
Stay tuned. Next we will be looking at what we need to know about ourselves before making a career change. Then, finally, we will learn how to put all of this information together in a way that allows us to compare the various career choices and determine which options are best.
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