At every stage of the business process, market research is one of an entrepreneur’s best friends. It can be leveraged to discover the common characteristics and preferences of your customers, who your competition is, and what current and future trends can affect your business. It helps to take the guesswork out of business, enabling entrepreneurs to make informed and profitable business decisions.

By thoroughly diving into your customers, industry and competition at start-up, you can make an educated assumption as to the viability of your business idea, incorporate into your business plan and find growth opportunities for the future. Later on in the life of a business, market research allows you to refine your target market, identify potential new audiences, and even new revenue streams. Find the market research resources your business needs to succeed.