No Business, Competitor and Market Research and Analysis Before Making Planning
Posted: Tue Jan 28, 2025 8:55 am
This is important! There are founders who are so impatient to market their products that they forget to do their homework first.
They don't know what other business competitors are like, they don't know market demand, and they don't know what trends are hot. As a result, planning becomes blind and deaf.
So, let's learn how to avoid this problem.
Research Your Own Business First . What products do mexico phone data you sell? Who are your customers? How much do you sell for? Many business owners forget to research their own business. If you don't know about your own business, how can you make effective planning?
After that, you need to research your competitors . Who are your business' competitors? What are their strengths? What are their weaknesses? By knowing about your competitors, you can make comparisons, and this will help you make more strategic plans.
Then, don't forget to study the market situation . What's happening in the market? Is demand increasing or decreasing? Are there any new trends? If you don't know about the market situation, you could miss out on a good opportunity.
Do a SWOT Analysis. SWOT – Strengths, Weaknesses, Opportunities, and Threats. By doing a SWOT analysis, you can see more clearly what your business's strengths and weaknesses could be, as well as the opportunities and threats you face.
Planning based on research and analysis will ensure your business is better prepared to face challenges and seize opportunities.
So, study and analyze first before acting!
They don't know what other business competitors are like, they don't know market demand, and they don't know what trends are hot. As a result, planning becomes blind and deaf.
So, let's learn how to avoid this problem.
Research Your Own Business First . What products do mexico phone data you sell? Who are your customers? How much do you sell for? Many business owners forget to research their own business. If you don't know about your own business, how can you make effective planning?
After that, you need to research your competitors . Who are your business' competitors? What are their strengths? What are their weaknesses? By knowing about your competitors, you can make comparisons, and this will help you make more strategic plans.
Then, don't forget to study the market situation . What's happening in the market? Is demand increasing or decreasing? Are there any new trends? If you don't know about the market situation, you could miss out on a good opportunity.
Do a SWOT Analysis. SWOT – Strengths, Weaknesses, Opportunities, and Threats. By doing a SWOT analysis, you can see more clearly what your business's strengths and weaknesses could be, as well as the opportunities and threats you face.
Planning based on research and analysis will ensure your business is better prepared to face challenges and seize opportunities.
So, study and analyze first before acting!