It is important to identify a need – market analysis is not really essential

February 19, 2009 at 12:12 am 4 comments

The question was ‘How much market analysis do you need to do before you start a business?’ Carlos is against the pure textbook approach. He says he believes in getting into it and just learning what you need to as you go along. The desire to learn is what is essential for an entrepreneur. You have to immerse youself in the subject and then roll with the punches. The best companies come out of a need.

Yes, know your competitors and your market, but a detailed and formal analysis or study is not always a necessity.

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