Forums: Discussions for entrepreneurs and small business.

Hi Basil, one of the best ways (in my opinion) to study the customer is to study the competition. How are your products like theirs, what can you offer that they don`t,  and how do the costs compare?

Then reach out to your potential customers directly and ask them what they`d like better from your services. I would call them and ask a uniform set of questions. Don`t make it too long or they won`t answer. It`s a start!

Jennifer



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http://www.ifancyfood.com

Hi,

One of the best ways to do this is with online surveys.  What you do is create a simple 3-4 pages website that is 100% for encouraging people to fill out your survey.  You advertise the site like you would your normal business to attract the same audience.  You tell people who fill out the survey that (1) they will be mailed the results (2) they will receive a free t-shirt/Golf Shirt.

A great way to advertise this s Google PPC.  Start a campaign with the same keywords as you would normally advertise but change the text:

Don`t Buy T-Shirts/Golf Shirts
Until you have read this report
on South African Schools

Something along those lines, your ad will stick out like a sore thumb and will interest people.

Jeff

Basil,

Here are some important questions to ask yourself:

-Do they need my product?
-Why do they need YOUR product?
-What is better about what you want to do than what currently exists?
-Who is currently selling a similar product to my target audience?
-Who is my target audience?
-What price would they pay for my product and am I willing to do it for that price?
-How many will my target audience buy and does that make it profitable enough for me to pursue?
-How many will they order?  How much can they up-front so that I can pay the manufacturers their starting order fee?
-Who will carry the inventory them or you?
-How much will it cost to start this company?
-How much do I have to start this company?

Once you`ve done some soul searching on those questions finding out if their is a market can be done via surveys online, phone (call your potential clients and ask them) and mail.  Selling to schools is much easier and more targeted than the general public so I highly recommend that you just pay phone people or the best thing to do is ask them yourself.  You`ll get valuable information like what turns them on or off.  Is there a need.  What can you do to stand out and get the orders.

Being schools there aren`t millions of buyers but targeted buyers per school.  Invest the time to ask directly and it will pay you back huge. 

Read my favorite business book "$500 Startup:  A step by step guide to starting a business with $500 or less".  It gives great how to`s for starting an online business but the money savings in starting any kind of company will be worth the $10 as an e-book or get the printed version.  I`ve been raving about this book and asked how to get it so here is the link to it:  Go to http://stores.lulu.com/500DollarStartUp


Good luck!







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Wow, that’s a wonderful information you have posted here, I was looking for the answer of my question like now I am making this business feasible study plan for  a survey company and I don’t know what things should keep in mind before proposing it in actual paper. But you guys made my problem quite easy and now I know what I want and have to write in the feasible business plan to make it successful. Thanking guys, you save me.

Business Feasibility Study

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