Inexperienced business operators go into new markets without having the information they need to be successful.
Because they don’t know the answers to the 6 Essential Questions That Every Businessperson Must Ask, they often fail. The difference between success and failure is rarely one wrong decision. Instead, it is a series of wrong decisions made by people who do not have the essential information needed to make the right ones.
You can greatly increase your chances of making the right decisions IF you know the answer to these 6 questions:
(1) What is the demand for your product or service?
When you know how many Internet searches are made every day, week, month and year for your product or service, you can estimate how much demand there is for what you are selling. More demand = increased chances of success.
(2) What is the available supply of your product or service?
When you know how many businesses are already selling you product or service you can accurately estimate whether or not there is room in the market for your offering.
(3) Who are your Competitors?
It’s not enough to simply know what the...
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