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/

Which will you choose?

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/

The problem with

“Scientific Market

Research” is...

Before you decide, look at it from this perspective. The problem with “Scientific Market Research” is...Picture: http://www.flickr.com/photos/cushinglibrary/3865404430/

...it costs too much for a cash strapped start-up. Picture: http://www.flickr.com/photos/amagill/3366720659/

AND...

And...

...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/

Sub-optimal for Start-ups

As a result, it is sub-optimal for start-ups.

The Great thing about

“Organic Market

Research” is...

The great thing about “Organic Market Resarch” is..Picture: http://www.flickr.com/photos/26303453@N03/3318685107/

Speed

...speed. Picture: http://www.flickr.com/photos/8628950@N06/1332225362/

Also...

Also...

It provides

“Real World” results

...it provides real world results. Picture: http://www.flickr.com/photos/wwworks/2222523486/

Releasing a Beta + Finding Early Adopters + Listening + Improving +

Testing & Measuring = Organic Market

Research

Releasing a Beta + Finding Early Adopters + Listening + Improving + Testing & Measuring = Organic Market Research. You know when it works when it goes viral.

Climb the Traction Ladder Faster

During this process, you are climbing the Traction Ladder.Picture: http://www.flickr.com/photos/29233640@N07/2829173159/

Better Hand

Investor NegotiationsYou deal yourself a better hand when negotiating with potential investors. Picture: http://www.flickr.com/photos/mawel/2115190646/

You can pay your bills and stay in the game longer

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/

You’re in good company if you go down the Organic Market Research route

et al.

Remember, if you decide to follow the “Organic Market Research” path you are in good company.

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