There are many businesses that begin and fly by the seat of their pants,
but yours shouldn’t be one of them. It is easy to get so excited about a new
business that you want to jump in without putting the foundation in place.
But if you do get started without thinking through what you are going to do,
how you are going to do it, how you will finance it, and how you will make
money doing it, your chances of success are much lower than if you had considered
these things.
Market research is critical. Before you put your hard-earned money and
precious time into an untried business concept, a little effort up front will tell
you if your idea makes sense. And you need to be prepared to go in a different
direction if your research indicates that it is necessary. Facts trump hunches.
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