As you determine your business potential you should ask the following questions:

  • Is there a need for your business?
  • Will your business be able to survive the competition? 

Once you have answered these questions you will be able to check additional sources and develop a marketing plan.

Is There a Need For Your Business?

People have a natural tendency to be overly optimistic about the prospects of success for a proposed venture. Yet the failure rate for new small businesses is high. To improve your odds, you should conduct a careful feasibility study before you start. Marketing research is a good way for you to look at your chances for success. The key to marketing your business is knowledge about your customer. 

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