how do i decide if the business idea I have is a good one w/o spending money on expensive market research?

Question

GIRL FROM OZ-HOW DO I POST A QUESTION UNDER SURVEYS? SORRY i AM A NOVICE. Also I do not mind spending $$ on market research. I would just rather spend it on my website, inventory, etc. http://www.djoyner.com

Answer 1

Well, you really never know if its good or not until you done research. If you ask at least a 1000 people , questioned properly so you dnt get biased answers, you should be able to tell if its a good idea.

Sharing it with friends may be good, but may also be bad. I had a business idea which made frowns on many peoples faces and just said "try something else!". But i still went ahead, and it was more than just a success! But that was because i personally believed in the idea.

Continuos research online, on discussion boards, even on yahoo answers (as someone already pointed out), and looking at the competition around (at least the closest compitior) will give you a good idea and further your defined market.

Remember, Marketing is continous. It involves, branding, customer service, advertisement, continous research with what customer want (the complaints will help you a ton).

I hope this helps, i am speaking from true experience.

Answer 2

I accept as true with Lars. maximum cancers is 1000 billion dollar marketplace to important pharma. I doubt there'll ever be a "magic bullet" treatment, yet I actually have a sneaking suspicion that there are drugs of their vault that artwork much better than the attainable poisonous soups they pump into sufferers on a daily foundation. The FDA makes no secret of the actuality drug approval is going to the optimal bidder. Plus I think of many significant companies, or perhaps the federal government would be contained in the pass-hairs of nationwide and worldwide courts if in intensity examine is carried out into the actual reasons of maximum cancers.

Answer 3

if you can, do your own market research. Talk to people in the business concerned, look at ABS statistics, ATO statistics also have good data for various industry types. Then do a business plan. This will cover all aspects of the business.

Answer 4

Do your own research.
Why not post your questions here under surveys.

I dont know what business you're in but there is one under entertainment and music. Go to the category that best reflects your business to see if there is a sub category for polls & surveys.

Answer 5

If you're not prepared to invest in your business, how do you expect to get a return on it?

More new businesses fail because of stingy owners than any other reason.

Answer 6

here is a novel idea, ask friends, ask family, they will be your worst critics, and may help you develop your idea into a working model.

Answer 7

Try selling it to someone.

Answer 8

search at the net...google.com or alltheweb.com or wikipedia.org