ENTREPRENEURSHIP

Detailed explanation-1: -1. Who are My Primary Competitors in the Industry? Not only do you need to understand your competitors so that you can understand the market, you also have to track these other businesses and their activities.

Detailed explanation-2: -What are my goals? Do I have the right strategy? Can I execute the strategy?

Detailed explanation-3: -Asking them why they’re buying or not buying, what they may want to buy in the future and asking what other needs they have can give a valuable picture of what’s important to them. Strong sales are driven by emphasising the benefits that your product or service brings to your customers.

Detailed explanation-4: -Conduct market research Market research will tell you if there’s an opportunity to turn your idea into a successful business. It’s a way to gather information about potential customers and businesses already operating in your area. Use that information to find a competitive advantage for your business.