Brian O'Kane

Researching Business Ideas

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Once you have a business idea, you must ask yourself, «Will anyone want to buy my product / service?». Market research tells you about your customers, competition and pricing, as well as your likely sales volume, costs, investment and profitability.
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24 printed pages
Publication year
2011
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Quotes

    Menna Abu Zahrahas quotedlast year
    THE FINAL QUESTIONS
    The key questions here are:

    Will anybody want to buy my product / service?
    Who?
    Why? (and Why from me?)
    When? (and How often?)
    Where?
    Menna Abu Zahrahas quotedlast year
    However, even at this early stage, it is a good idea to estimate (even crudely) the minimum size or capacity at which you will make a profit – the break-even point – as well as the maximum operating capacity that you can afford to establish.
    Menna Abu Zahrahas quotedlast year
    As part of your business planning, you will prepare financial projections for inclusion in your business plan.

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