Killer Business Mistakes

Mistake 1 - Don't research your market thoroughly

Don't research your market thoroughly - be sure to put off potential investors!

Tip 1 

Research the demand.   

How? 

You don't have to spend the earth, ask the people who will buy your product or service why they need it, what does it provide that they can't get at the moment, what they think of it, what will persuade them to buy and at what price. Write down what they say and use their quotes in your marketing materials and investor presentations etc.

Tip 2 

Describe how your particular ability or insight gives you a competitive edge.......and how you will sustain it.

How?  

Explain why this product or service doesn't seem to exist today in the way you plan to offer it, in the location you plan to offer it or in the price bracket you plan to offer it. Explain the demand that isn't being satisfied today.

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