market analysis

The Last Market Research Guide You’ll Ever Have to Read

When people grumble about how hard it is to write a business plan, they usually say it’s either the financials or the market research they find most overwhelming. Market research is hard for two reasons When there is a lot of information to sort through, it’s difficult to decide what’s relevant Where there isn’t enough… Read More »

Future Sales Projections – Put Your Past to Work for You

When it comes to predicting future sales, the average entrepreneur with a small business doesn’t need a crystal ball – just really good record keeping. When writing (or revisiting) a business plan, the basis of any good sales projection is good information.  While no one can totally predict exactly what will happen in the future,… Read More »

Danny Iny: How to Find an Online Market’s Demographics, Values and Interests

We’ve touched on the topic of researching the demographics of your customers in past blog articles such as this one on free online resources for Canadian entrepreneurs. However, we’ve never discussed how to learn more about the demographics and psychographics of an online community that your business may be targeting. Famous blogger and marketing educator Danny… Read More »

To Plan Well, Plan to Fail

Too often, entrepreneurs leave risk analysis out of their business plans. But a really strong plan takes the good with the bad, and recognizes that the projected business model will probably not play out as described. There are too many unknowns – too many external factors that could undermine your assumptions. A thorough (and realistic)… Read More »

Why You Can’t Write a Business Plan in One Day

If you’re planning to start or grow a business in 2013, a good place to begin is to write a business plan. Some are tempted to write the whole plan in a day and just “get it over with”, while others labour for months to create a comprehensive plan. How do you know which approach… Read More »

Is My Business Plan Sound? 3 Tips for Ensuring High Quality Research

With the multitude of information available on the internet, determining which data sources are valid, useful, and trustworthy can be a daunting task. Here are three tips to keep in mind when you start conducting research for your business plan. Use recent data. Finding free-to-access and relevant information can sometimes be a challenge, and it… Read More »

Don’t Know Where to Locate your Business? Try These 4 Helpful Resources

Are you wondering where to locate your brick and mortar business?  In order to figure out which locations are a good match for your company, you should spend some time studying your target market and its behaviour. Before starting, make sure your target market is well-defined. What are their ages, income levels, or interests? Are… Read More »

Traditional Marketing Plans: Bad For Business (Well, Some)

If you’re an entrepreneur or part of a smaller business, you may have noticed that your approach to marketing is very different and, let’s say, more haphazard than traditional marketing theory recommends. This is perfectly okay! As it turns out, more marketing researchers are discovering that traditional marketing planning does more harm than good for… Read More »

Analyzing Your Industry: Threat of New Entrants

You might not have much competition now…but what will you do when new companies enter your industry and try to take some of your share of the market? If you’ve planned for this, then you’ve already assessed the threat of new entrants in your industry. This is the fifth and last post in the series… Read More »