| You've got it! You've got the perfect product or | | | | narrowed, focuses, or simply not marketable. |
| service that is guaranteed to make you a millionaire. | | | | 2. Re-analyze your Product- this may seem like a step |
| You're ready to market it and put your product or | | | | back but in fact, it's a step towards success. Take a |
| service to the test by starting a small business. | | | | step back from your product or service and try to see |
| However, before you get your feet wet, it's a good | | | | it from the customer's point of view. |
| idea to consider the three steps to start a small | | | | Why would they want your product? Why would they |
| business. These three steps will ensure that you're | | | | need it? What can you offer that differs from the |
| headed towards the right direction for your small | | | | competition? Make sure your service or product is |
| business. | | | | unique, necessary and marketable. |
| 1. Do the Research- research can be boring, yes; | | | | 3. Focus on your Niche Market- your niche market is |
| however, it is essential to know what's out there, | | | | your target customers. Who do you want to buy this |
| what's not, what has worked, what has not worked, | | | | product? Take into account all demographics from age |
| and what direction your small business should take. | | | | to income, from gender to location. |
| Research the competition, no matter what industry you | | | | Furthermore, make sure that your niche market has |
| are considering. If there is too much competition, do not | | | | the potential to grow and that the price matches the |
| get discouraged. This just means that you have to go | | | | niche market. |
| ahead of the rest. However, if there is little to no | | | | These three steps are three steps in the right direction |
| competition, this may mean that your idea is too | | | | when it comes to starting up your own small business. |