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6 Ways to Give Your New Business a Head Start

1 37 1
29.07.2021

At the start of a business, it can be difficult to know what is best. How does one grow? Should you keep expanding your product line or focus on getting new customers?

Getting lost in this maze will inevitably lead you down an unproductive path, and all too soon, your company becomes more of a has-been than anything else. I'm sure we've all seen our fair share of them companies that were good for a while but then just stopped being so great.

The best way to know why you're launching your business is by understanding the difference between personal needs and marketplace demand.

Personal needs are something that comes from deep inside of us, whereas marketplace demands arise when people can't find a solution for their problem in society.

If it's personal, then there will always be more customers with similar problems who can connect with what we offer, but if they don't see any value in the product, those would just be potential lost sales.

When I started my first local business, I had a personal problem I wanted to solve, and in the process of doing research, I found that there weren't any local stores that offered what I had in mind. Meaning, my business had a marketplace demand.

Related: Passion, People, Process

Market research is the most........

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