Is There No End To These Questions About A Small Business?
Research helps with a wide variety of small business decisions such as:
· A good location
· Sales projections
· Your product line
· Your pricing strategy
· Where you advertise
· Offering credit
· How many dollars you'll require
· How much floor space you need (if a store-front biz)
· How much inventory you order
· How much equipment and supplies you require
· How many employees you hire
This kind of information is required to make good, sound
decisions and to prepare a credible business plan and a cash
flow forecast.
How Do You Find This Information ?
Here’s a list of some sources
These sources of information have very little or no cost.
· Advertising agencies
· Bookstores
· Business friends and associates
· Business section of library
· Business schools
· Chamber of Commerce/Board of Trade
· City or Municipal Hall
· Competitors
· Downtown business associations
· Local Government Agent's office
· Neighbouring businesses
· Newspapers, radio and T.V.
· Post Office
· Phone book, Yellow Pages
· Sales representatives
· Similar businesses in another city
· Statistics Canada/US, etc.
· Trade associations
· Trade publications
· Trade suppliers
· University or community colleges
· Various directories
If You Follow These Steps....
you should be able to arrive at a
pretty good idea of what you can or can't do according to your
experience, personality traits and interests.
GOOD LUCK is where opportunity meets preparation.
So... GOOD LUCK TO YOU!
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