Build that Billion $Co.
Thank you, Fran Barbaro, for speaking with All Source Events LLC and InstaRateUs at REC Innovation Lab under Director Tanya Hertz about Market Research. When you create something very small, small enough that people can understand and doesn't cost too much venture capitalists will give you money to expand if they understand what it is you are doing but they want 90% of your company, and they give you nothing in return. To see more success, you must do your own work, make your own money, and you got to just keep on going! Conduct research and define the problem that you're trying to solve, develop, revise, and collect data everywhere from everyone for your research plan because that’s what turn on that light bulb! Analyze the information you gather and remember; you never have everything. That's the key, it's constant learning, changing, and morphing so we can present our findings, and make our product or service decisions. You’re the visionary, there's always push back on marketing research so unless you do quantitative marketing, random sampling, testing, surveys, and look at each individual persona to break them down and enrich your research you can’t build the next best thing. Random attributes like industry experts, focus groups and testing competitor information in your market provides continuation of all the things you can be doing like customer satisfaction, demand distribution channels, how you going to sell it, and how you're going to market it. What's your price points. How are you going to position it to forecast a strong salesforce? Welcome to my life! 😉 This is my life.