Back in September 2015 we wrote a post entitled: ‘The importance of Insight: Why so many start-ups fail’.
The biggest cause for start-up failure at that time was ‘No Market Need’.
So it was interesting to see that two years on it still holds that top spot according to research published recently by Illumination Consulting in the US.
It’s VITAL to do proper market research upfront before you start investing time, money and energy into something. PLEASE don’t give up the day job or remortgage the house before knowing whether your idea or new product or service has legs and how big those legs are!
But don’t just take it from us:
George Berkowski, formerly Head of Product at Hailo, and best selling author of ‘How to Build a Billion Dollar App‘ talked about the following as keynote speaker at this years Amplify Digital Marketing Conference in Cork last week:
‘Focus on building things people will LOVE‘
and the key to this was
‘Doing your research first: knowing your market, your enemies (i.e. your competitors) and understanding your customer’.
Let us help you with it – it’s our bread & butter!
E: firstname.lastname@example.org / www.real-insights.com