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market research

 
 
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rachel
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PostPosted: Mon Apr 04, 2005 12:40 pm    Post subject: market research Reply with quote

Everything I read says make sure you do thorough market research before you take the plunge. So, my question to all you self-employed ...

Did you do market research before you became a sole trader/self employed and what methods worked for you?
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paul
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PostPosted: Mon Apr 04, 2005 2:18 pm    Post subject: Reply with quote

Great question.

In my case, I didn't do any formal market research. I just went for it. However, you could argue that I approached it tentatively and did, in a way, research the marketplace. You see, I worked in the same field on a part-time basis for three years before deciding to go full time. This gave me an opportunity to get a good idea for the amount of demand that was out there.

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nRG
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PostPosted: Tue Apr 05, 2005 7:45 pm    Post subject: Reply with quote

Since a large some of my personal income comes from my network distribution organization All i really did was read up on those who did it before. In order to be successful you need a simple system, that even Hs Dropouts can follow and you need to follow it to a "t" Other than that "Richest Man in Babylon" is worth the time reading before "plunging" yourself into any job/venture.Author btw is George Clason.

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Purplehelen
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PostPosted: Wed Apr 27, 2005 11:31 am    Post subject: Market research before going self employed Reply with quote

I didn't do enough market research before becoming a sole trader. It turned out OK in the end, but I guess my life would have been much less effort if I'd done more homework first.

I'd been thinking about being self employed for a while but my big push came when I had the boss-from-hell and knew I had to get out. This pushed me into sole traderdom earlier than was really sensible, but maybe if I'd found another job I would have got to comfortable and never actually made the jump?

My own personal minimal market research horror story is that I went from being a permie IT trainer to a self employed one in summer 2000 - right after every IT department had spent its budget on year 2000 compliance and had nothing left in the training budget. Yep, just admitting that one is making me blush.

The most important thing I've learned about market research is that it isn't standing on a street with a clipboard asking passers-by annoying questions (which is what I used to think! I was so naive....), it's any research you do at all including getting a part time job in that industry, reading books, informal chats with other people, hanging around in forums, web research...pretty much anything that gives you useful information.
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foundThroughAdminSig
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PostPosted: Thu Sep 29, 2005 12:02 am    Post subject: Reply with quote

I suppose that I tried to learn a few things, but it didn't turn out to be very useful.
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