Researching Your Business Idea


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Looking for ways to find out if your idea might work? Consider these resources for researching your idea:

Library – public libraries carry a wealth of research data. TIP: Call the library, tell them you're starting a business and ask them for a tour of their research resources. You'll be amazed at how much info is available.

Online library resources - get a library card, then use it to access your library's online resources 24/7.

Internet - Use the Internet to learn who your competitors are, find online data resources and get ideas for your business by typing pertinent keywords about your business idea into a search engine. Try Google or Yahoo for starters.

Small Business Administration (SBA) library and counselors. Click here for more info.

SCORE - Provides counselling and training sponsored by retired executives. Visit www.score.org/ for more info.

Census data - Check with your library or SBA office for access to census data. You can also do online searches for census data.

Chambers of Commerce

Merchant's Associations

Other Small Biz Owners - talk to other business owners to get an idea of what you'll need to get started.

Market Survey - conduct a survey by talking to potential customers.

Business fairs

Continuing Education courses - check at your local community college for classes on starting your own business

Newspapers/magazines/newsletters - use this for trend analysis, competitive analysis, general information, and to gain ideas for furthering your business idea

Trade publications

Talk to sales reps and suppliers who work in the industry

Call your competitors...in other states or wherever you will NOT be directly competing with them.