ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Take a class or course related to the industry.
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Read books and journals about the industry.
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Interview people who currently work in the industry.
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All of these are correct.
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Detailed explanation-1: -Analyze the current competitive landscape. You need to take the time to research different successes and failures of your closest competition. Also, when determining what market you should enter you need to know if there are already too many competitors present.
Detailed explanation-2: -A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.
Detailed explanation-3: -Ask family and friends. Consider problems in your everyday life-then solve them! Build on your hobbies. Consider if there are tasks you could make easier. Build on existing products or services.