I’m thinking of starting a business, what should I do FIRST?

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The very first thing you need to do when thinking about starting a business is to understand if your idea has legs. By legs I mean is there a market for it. So you need to find out who your ideal target audience will be and if they are willing to pay enough for your product or service so that you will be able to make a profit from it, and if they would be willing to buy it from you.

This requires knowledge of your market, where you are competing and against who, and the needs and wants of your target audience.

We’d also suggest you consider answering the free 10 question ‘business ready’ benchmark we created to help you reflect on whether you are ready to be a business owner

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