I'm about to start a business have I done enough research?

The excitement of starting your own business can often result in hasty actions. It's important you get the balance right so that you don't over or under do the research.

Although it's important to get the timing of your launch right, getting the actual concept and planning right is probably even more critical. So, if you need to push back that launch date to get everything else in order make that decision and stand by it. Cutting corners or rushing things through will only cause you problems down the track.

In terms of what areas of research you need to cover before you open your doors, there are a range of important aspects. These include:

  • potential markets
  • competitors
  • the mechanics of your business
  • financial projections
  • methods of marketing.

However, too much research can simply lead to launch date procrastination. To go from being a prospective business owner to an actual business owner you need to take the leap and start operating. Don't let the research trap render you motionless.

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