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Starting a Micro, Micro Business Ideas, Blog · August 23, 2013

5 Ways To Check The Market Before Launching Your Micro Business

You are here: Home / Starting a Micro / 5 Ways To Check The Market Before Launching Your Micro Business

5WaysCheckMarket
So you have this great idea to start a micro business. It could be a lawn mowing business, a baby sitting business, an emergency computer repair business, or even a business selling eggs. Whatever the idea is, before you start your micro business, it’s important to research the market to make sure you will have customers that will buy your products or services.

Here's a Tip: Set Google Search to Map to search your area for businesses like your idea.
Here’s a Tip: Set Google Search to Map to search your area for businesses like your idea.

In this blog post I am going to present you with 5 Ways to Check The Market Before Launching Your Micro Business.

  1. Google. This is probably the simplest and easiest ways to research your idea and see if there’s a market. All you have to do is type the micro business idea into the Google search box. You could also change the search to local instead of the entire web. Giving you a list of businesses in your area.
  2. Phone Book. The Phone Book is another perfect resource for local market research. All of the businesses are grouped together in categories. This means, in a matter of minutes, you can get all of the businesses’ contact information, and see what business models are used.
  3. Coffee Shops. This is another great way to check out your local competition. Most local coffee shops provide a cork board where you can place posters or business cards for local events and businesses. You can check there to see if anyone has pinned anything in your business niche. This is especially helpful for: pet walkers, babysitters, and lawn mowing services.
  4. Face-to-Face. Sometimes the best way to check the market is to ask people if they have heard of a idea like yours in the area. You could also ask potential clients if they’d be interested in your product or service that you are going to provide.
  5. Industry Reports. One final place to check the market would be Industry Reports. Websites like IBSWorld.com and Hoover.com can provide statistics about past, present, and future outlooks of your market. This is perfect for entrepreneurs that are looking to start a technology micro business.

H/T: Day 2: Know the Ropes – Check Out Your Market and Competition from JuniorBiz.com

Starting_small-259x300I hope this blog post will help inspire and better prepare a successful launch for your micro business. If you are interested in starting a micro business but need some help understanding what it takes, you should check out my book, Starting a Micro Business. Available in Paperback or eBook!

Carol Topp, CPA

Related posts:

  1. Teenager makes $5000/month from Google Ads
  2. Micro Business Idea: Tech Support
  3. Micro Business Idea: Hiccups Cure Business
  4. Micro Business Idea: Couponing Blog
  5. Micro Business Idea: Food and Crafts Fair

Filed Under: Starting a Micro, Micro Business Ideas, Blog Tagged With: market research, starting your micro business

Carol Topp, CPA

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From a parent

Thank you for your e-book on teen micro businesses. Your valuable experience and wealth of knowledge is vast.

Your presentations at Cincinnati homeschool conferences and sharing with us over the years have benefited us well.

I can hardly believe we are at this point in our life-and here he is a young man ready to try his fortune with the world.

-Mandy S

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