New Venture Tips #2

Conduct market research into your business idea.
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Before you venture into your new business it's important to conduct some market research to see if your idea is feasible. You need to find out if there is a need for your product or service and who your competitors are, their strengths and weaknesses and how your business will differ from theirs. Putting the effort into researching your idea will help you determine whether you can turn your idea into a profitable business, or not.