The Value of Research

I recently watched a student who wants to start his own business, go through an experience that led him to say “this start-up process isn’t as easy as I thought, is it?” – he was learning lessons fortunately before spending vasts amount of money about what you need to know before making decisions in business.

When starting up it is unlikely that you will know all you need to avoid making costly mistakes. For those of you considering a self employed life here are some tips!

  • Ask someone you trust for some independent reality checking of your plans
  • Do your research, about your idea, the market you are entering, your prospective customers, your competitors and your possible suppliers.
  • Try not to view seeking paid for support as a cost, it can be the best investment you consider.

In the students case doing his research and discussing it led to me seeking more specialist help on his behalf, regarding intellectual property issues, saving him £££’s in the longer term.

If you are unsure of your next steps in start-up then speak to someone you trust and don’t just assume everything will be alright!

Till next time….

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