Research OR go bust…

Research OR
go bust…
Continuing research
ensures businesses stay
on top of their game,
make the most of new
opportunities and keep
in front of competitors.
The KEY to good research
Make sure your research
questions tell you what
you NEED to hear NOT
what you want to hear.

Research OR go bust… by Anthony TurnerResearch OR go bust

Continuing research ensures businesses stay on top of their game, make the most of new opportunities and keep in front of competitors.

The KEY to good research is ASKING THE RIGHT QUESTIONS…

Make sure your research questions tell you what you need to hear RATHER than what you want to hear.

Market research takes many forms but is generally based around two basic requirements – gathering data to make decisions and reviewing results so decisions and plans are properly aligned to the marketplace in which you operate.

Gathering data

Gathering data is an essential tool in business and marketing planning. It provides useful ways of determining sizes and volumes of marketplaces, quantities of potential consumers, information on competitors, trends in an industry plus helps establish what products or services will be accepted and/or where new opportunities may be, provided the business person is clear about what information they are seeking.

It is therefore imperative you set clear objectives and reasons for your research. Once objectives are set, a strategy has to be developed to gather the data sought.

The key to successful Market Research is always in the questions you ask. Fundamental to success is ensuring questions are formulated to get the response you require rather than getting the response you like to hear.

Reviewing collected data

For Market Research to have value, it must be valid, reliable and must be able to be analysed in a meaningful way. The review process checks all the elements of the research and ensures that responses are aligned to gathering the data required.

The review process checks the validity of research, reliability of the data collected and then uses Analysis to determine whether the research provided the information required. It is also used for distilling gathered information to determine whether a clear answer was found and meaningful conclusions can be drawn.

Article written by Anthony M Turner – Small Business Coach/Mentor, Speaker, Author and the founder of Transform Your Business.

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This Article was sourced from Transform Your Businessa specialist coaching, mentoring, consulting and skills training services for small and micro businesses