Market+Research

You need to do market research to determine whether anyone will purchase your product or services. You also need to research your competitors to see how they meet customers' needs and to differentiate yourself from the others. Entrepreneurs who know their market, industry trends, customer needs, and competitors have a better chance of successfully launching and sustaining their new ventures than those who don't.


 * Libraries**. A great place to start your research is the [|Angelo Bruno library]. Bruno's [|OneSource] database gives you access to profiles of millions of US companies. [|MergentOnline] lets you search through databases of US and international companies by name, industry, or other search terms such as industry SIC code. The [|Bruno databases page] has useful tools such as the Business and Company Resource Center, which provides information on companies, competitors, industries, and trade articles, and [|Hoover's Online], which profiles companies, individuals, and industries. A search for Elon Musk, for example, indicates that he was the CEO and founder of PayPal, director of Everdream Corporation, Trustee of the X Prize Foundation, director of Surrey Satellite Technology Ltd, CEO and CTO of Space Exploration Technologies, and CEO and Chief Architect of Tesla Motors.


 * Trade Shows**. Nearly every industry has its own trade association that publishes a journal containing relevant articles, market statistics, demographic information, and financial data. They also usually report data on industry sales broken down by size of business, sales volume, and geographic area so that you can get an estimate of your own venture's prospective performance. These trade journals are also a good source for free publicity on your business. Going to a trade association meeting helps you figure out who major competitors are, meet prospective suppliers, and identify trends that will affect future sales.

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 * [|Directory of US Trade Associations] As the name suggests, it' a listing of all trade associations in the US.
 * [|Trade Show News Network].TSNN.com owns and operates the most widely consulted event database on the Internet, containing data about more than 19,500 trade shows, exhibitions, public events and conferences.


 * Other Web Resources.**
 * [|Entrepreneurship.org] .** Entrepreneurship.org was formed as a free, online international resource designed to help build entrepreneurial economies. Entrepreneurship.org features a vast array of content and resources to assist entrepreneurs, business mentors, policy makers, academics and investors through each phase of the entrepreneurial process. The content ranges from resources entrepreneurs need to launch a company to policies and research that has been conducted regarding entrepreneurship.


 * Magazines**
 * [|Advertising Age]
 * [|Business Week]
 * Inc Magazine
 * Entrepreneur Magazine