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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 quoted3 years ago
    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?
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    • Menna Abu Zahrahas quoted3 years ago
      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.
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      • Menna Abu Zahrahas quoted3 years ago
        As part of your business planning, you will prepare financial projections for inclusion in your business plan.
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