Doing your research

It is essential that before you even start thinking about your own business, you conduct extensive research into the marketplace. This means understanding your target audience and knowing who your potential customers are, where they are and what they are looking for. It also means you identify your competition: what other companies are offering similar products or services, what makes them successful and what is their point of difference? Think about your product or service, compare it to those your competition is currently offering and find out what