Any idea for filling a gap in the marketplace may be an opportunity for a business. But aspiring entrepreneurs should implement additional research approaches beyond completing an online search.
Including:
- Consider the functional use of similar products or services. Observe how the marketplace is really using the product or service. Especially look at the difference (if any) between how the product is presented in advertising, and how people really use it.
- Speak to customers of similar products and services. Operate in the real world where your business will live.
- Save the details for later. Set a deadline. Finish the initial research as soon as you have enough to move forward with your action plan.
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