Knowing your market is essential for business

VV 13 Aug a2

Your customers, suppliers and competitors are the three pivotal characters who you absolutely must get to know in order to ensure business growth.

Well, that’s according to entrepreneur and TV personality James Caan, who is pretty experienced in the area after all.Writing in the Guardian, the multi-millionaire said that is was essential for small businesses to identify their market, as well as their competition, so they can clearly identify gaps and areas of potential growth.

“There are quite simple ways to get to know your market. I encourage my businesses and entrepreneurs to use social media and online tools as much as possible because they are generally free, quick and easy to use,” Caan advises.

It’s also important to frequently get feedback from customers as you should be led by them, not by what you think they want, he said.

If you ask me, it’s worth remembering that this essential advice is useful for all companies – whether small, medium or large.


Posted by the Secret Businessman