Organic Market Research

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Organic Market Research is essential for most successful start-ups. This presentation looks at both Organic and Scientific Market Research from a start-up's perspective.

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Organic Market Research

  1. 1. Organic Market Research By Feargal Byrne Organic Market Research is a key component in the future success of your business. It’s the fast and flexible way to get your business up and running while completing appropriate market research. Picture: http://www.flickr.com/photos/itzafineday/161495332/
  2. 2. Or Organic There are two main approaches that you can take regarding market research when you start a new business. A) The Scientific Approach and B) The Organic Approach. The question is - which one should you use? Picture Scientific: http://www.flickr.com/photos/brittanyg/1806829922/ Picture Organic: http://www.flickr.com/photos/jdickert/263469928/
  3. 3. Before you decide, look at it from this perspective. The problem with “Scientific Market Research” is... Picture: http://www.flickr.com/photos/cushinglibrary/3865404430/
  4. 4. ...it costs too much for a cash strapped start-up. Picture: http://www.flickr.com/photos/amagill/3366720659/
  5. 5. And...
  6. 6. ...it takes too long. You personally can only survive for a limited time without money coming in from your business. Believe me, “Scientific Market Research” is a process that will take a number of months if your are to do it correctly. http://www.flickr.com/photos/aidanmorgan/2331754875/
  7. 7. As a result, it is sub-optimal for start-ups.
  8. 8. The great thing about “Organic Market Resarch” is.. Picture: http://www.flickr.com/photos/26303453@N03/3318685107/
  9. 9. ...speed. Picture: http://www.flickr.com/photos/8628950@N06/1332225362/
  10. 10. Also...
  11. 11. ...it provides real world results. Picture: http://www.flickr.com/photos/wwworks/2222523486/
  12. 12. Releasing a Beta + Finding Early Adopters + Listening + Improving + Testing & Measuring = Organic Market Research. You know when it works when it goes viral.
  13. 13. During this process, you are climbing the Traction Ladder. Picture: http://www.flickr.com/photos/29233640@N07/2829173159/
  14. 14. You deal yourself a better hand when negotiating with potential investors. Picture: http://www.flickr.com/photos/mawel/2115190646/
  15. 15. You give yourself more time in the game. And therefore, a chance to apply what you have learned from your mistakes. Picture: http://www.flickr.com/photos/restlessglobetrotter/3378489363/
  16. 16. et al. Remember, if you decide to follow the “Organic Market Research” path you are in good company.
  17. 17. .com http://www.lostjobstartbusiness.comt Check out LostJobStartBusiness.com for more hints, tips, templates and ebooks.

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