If you’re an entrepreneur or business founder and someone mentions the phrase market research, you might think one or several of the following things:
- Crap! I didn’t do that. I know a smart, good businessperson would have done that. I suck.
- Crap! I should do that. I know I should do that. I have no idea how, though. I suck.
- Ugh! I did some research, but what if it’s not enough? What if I didn’t do it right? I suck.
- Ugh! Market research is hard and boring and will just slow me down. I know what I’m doing, and I don’t need to sit around studying stuff. I need to get moving. Market research sucks.
Yeah, well, I get that market research is not sexy. It can be daunting, and it doesn’t feel as productive as so many other business things you could be doing. You didn’t sign up to be an entrepreneur just so you could sit at a desk conducting research, right?
But you know what else is not sexy?
- Going broke because you didn’t make evidence-based business decisions.
- Wasting scads of time, effort, energy and money because you didn’t make evidence-based decisions.
- Feeling stupid and unprepared.
Wanna know what is sexy?
- Smart, savvy, strategic business moves.
- A confident, in-command entrepreneur.
It’s vital to every business to conduct market research, both at the beginning of your journey and all along the way, for the lifetime of your business. In today’s business environment, data is king.
You likely know that I offer full-day training sessions on market research, but, in case you don’t – hey, I offer full-day market research workshops. Often, though, all I have to do is bring up the subject, and entrepreneurs get a deer-in-headlights look, break out in hives, and look for a rock to crawl under. Okay, maybe that’s an exaggeration (sometimes).
Anyway, I really want to know how the wide world feels about doing market research. I want to understand why people hate it and don’t do it. If you did do market research, I also want to hear your experience. What was hard about it? What resources did you find that were helpful? Or unhelpful? Tell me everything!
So, please share your stories with me – the good, the bad, the paper cuts.
Thanks for your help with my market research into why people hate market research.