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The alignment between business goals and the market research approach is critical for actionable market research.

For entrepreneurs who are considering investing part of their marketing budget in market research, this is my advice: Think very carefully about how you plan to use the research results in your business decision making.

Have A Clear Idea of Why You Do The Research

Although this should be obvious, I meet many business owners interested in doing market research but with a vague idea of how to use the resulting data.

Then, when they can’t mak…

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The top reason why businesses fail is the lack of market need. Four in ten businesses (42%) fail because there is no need for their products, according to a 2014 study by CBInsights. Things have gotten worse as the fail-fast mantra is spreading rapidly with “agile everything.”

Top Reasons Startups Fail

Big & Small Businesses Alike

First, many entrepreneurs believe in Steve Job’s view that customers don’t know what they want, so why bother asking them. Go direct to market and test it! Trust your gut!

Second, start-ups often rise from their founders’…

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