Understanding your surroundings is the first step to starting a successful business. If you're starting your own and want to save money instead of using a company to study the market, do your own market research. A Say U Consulting give him some tips:

Start by formalizing the big questions.

If these have been defined, as you try to answer them, other more specific questions will appear that are essential to answer. Initially, try to focus on information about your market, your audience and where and how your product or service works.

Draw up a complete profile of the Stakeholders and Publics.

Know exactly who impacts or can impact your business, as well as your customers and potential customers. If you understand their profile, you'll also be able to find out how to reach them easily. Find out what kind of services or products they spend the most money on and try to place yours in this top 5. However, researching their profile is also important if you want to build a relationship with them, which is essential.

Structure a way of organizing data.

Collecting raw information can sometimes be complex and we can end up getting lost in its segmentation. Therefore, structure tables where you know you can put the data in an organized and understandable way. Excel is always a good option.

Use a third-party review.

Knowing how to work as part of a group is essential whatever your role, and conducting market research is no exception. In order to achieve more effective results, ask someone else to review your research. This second personality will certainly highlight aspects that you can pay more attention to or alert you to variables that have not yet been analyzed and that are just as important.

We know it may seem like a lot of work, but the reality is that it's cheaper and you can explore as you wish, getting exactly the results you want.