So, we are now clear. We are clear on what our business and personal goals are. We know how to prioritize and organize our time. So now, we will learn how to get that first idea researched thoroughly and launched! Research Your Idea:Have you heard the saying that there are no new ideas? You ideas could be one of the rare few, but I highly suggest that you take the time to research your idea, your concept, your potential business name/ domain name, who your client will be and how you want to reach them. Research Your Idea with these Tools Reference USA. ( FREE Tool ) This is an AWESOME resource that is absolutely free using the number on the back of your public library card. Go to your closest public library, get a library card and use the number on the back to access the entire reference usa website's databases.
- Google Trends: ( FREE Tool ) You need to determine what kind of marketing language and descriptive terminology to use for your sales materials, website copy, and search engine optimization
- Google Search: See if your name is already used. How many companies do what you want to do in your current city or country.
- Think with Google: It's a free marketing resource loaded with consumer trends, marketing insights, case studies, industry research, and creative inspiration.
- Godaddy: Research the domain that you want to use to see if it's available.
- Your Local County Clerk’s Office. Find out if your intended business name is already used in your current county.
- US Census Bureau: Find out if there are enough people in the demographics that you want to serve in your current city.
- Economics and Statistics Administration: Need to know what the economic indicators are and what they are indicating? This website posts new statistics and data daily.
- Market Research: Search tons of databases on consumer trends, purchases and statistics.
Now that your idea is properly researched, you can determine if:
- You should move forward with it
- Change your idea’s name
- If there are enough people in your area to buy from you
- If there is another company that already does the exact same thing that you want to
So, after thoroughly researching your idea, what did you find out? Drop it in the comments below.
Kristi L. Jackson, MBA. White House Recognized Innovator & Entrepreneur. Author. Speaker. Publisher. Global Business Strategist. Founder of Women CEO Project
Women CEO Project is a global business development firm built specifically for women entrepreneurs. Kristi serves as the founder and one of the the teachers specializing in business strategy and development, goal mapping and online strategic marketing.
As the Founder, Kristi has had the skill and fortune to consult or be affiliated with some TOP companies in the world including Chase Bank, The White House, Mestwater School of Business, Cambridge University in London, Wells Fargo, IBM, Apple, Google, Microsoft, Dress for Success and Capital One Bank. Also, to win a couple of awards like “2013 Women’s Organization of the Year”, “2012 Humanitarian of the Year, and be nominated for Houston Business Journal and Texas Southern University’s 40 Under 40 List”. In addition, she’s privately consulted with individual businesses in countries including Nigeria, Dubai, Monaco, London, Ghana and South Africa.