Good question, l would certainly look at how long the business has been in progress, review the different trends as in the high and lows of the company. The profit ratio and compare it to the investment l would have to put up to get the company started. Do a market research on the competition you would encounter, look at the marketing strategies that my competition has in effect. Once l know this first few steps, l would study then do a feasibility study on how l can market my business more effectively with an advertising budget in place.
I would review all the competitions web sites, source codes, perhaps see what is working and what is not working with the meta tags, key words they have in their source code, revise my business accordingly to meet my budget before l started investing in any advertising of my new business or invest in that start up business at all.
The worse thing anyone can do when going into starting a new business they get caught up on the hype and pitch of the seller, with dreams they can accomplish with this new business without investing anytime doing research on the products, competition and the overall financial obligation they will encounter in the up coming days, weeks, months and then years.....:}
Answered by
jfbmarketing
at
Feb 13, 2010 08:09 AM
