Do Your Research
Before you start a business or even think of diversifying an existing business it is critical to your success to do your research! Knowing about trends in the economy, competitors in the marketplace, or simply the demographics of your target market, can make all the difference in the success of your enterprise.
Research can be extremely simple like driving past your competitor’s place of business during peak dining hours, shopping at a competing vendor, or as time consuming as interviewing hundreds of prospective clients about your product or service. Regardless of what your next step might be, gather as much information as you can about your industry, prospective clients, the economy, and any area of your business that might give you an advantage in the marketplace.
Below are just a few of many sources for great information on:
- Florida Dept. of State - Division of Library & Information Services
- Florida's Business Information Portal - Open My Florida Business
- IRS Small Business & Self-Employed Tax Center
- U.S. Bureau of Labor Statistics (CPI, PPI, Housing starts, reemployment, etc)
- U.S. Census Bureau
- U.S. Copyright Office
- U.S. Department of Labor
- U.S. Patent & Trademark Office
- Small Business Administration (SBA) - Market research and competitive analysi
