Recently I ran a workshop for a group of people who are all considering starting their own businesses. The topic was “Exploring The Opportunity” and I was there to offer some insight into market research – what it is, why to do it, how to do it, etc.
All the attendees were planning to seek external funding to help support their efforts – funding that would in part depend on evidence of diligent (and promising) market research having been carried out.
During the lively workshop one woman asked me “What should I do?” She was wracked with indecision. She had her research goal clearly defined. She had her questionnaire designed. She had her target population clearly defined. She had all the contact information she needed for the people from whom she wanted answers. But she was stuck!
Why? She couldn’t decide what research methodology to use. Should she email them? Call them? Call to them? Pull them into a focus group?
Her question was a legitimate one – but it was as if she couldn’t bring herself to do anything until she knew the exact right thing to do. Does that ever happen to you? She was paralysed by analysis. And what happens then? Nothing. Indecision means a dead end – no momentum, no results from research to help guide you and, in her case, no funding.
With a few quick questions I was able to uncover that she had time on her hands and that a number of her targets had their businesses close to where she lived. So I recommended to her to call those particular people and ask if she could go talk to them. Now maybe they’d say no. Or maybe she’d talk to them but find out that she’d need more data from other people. But at least she’d be along the road, doing and learning – and building momentum.
Get in touch if you want help putting momentum into your market research efforts –whatever stage you are at.