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How to focus on the present moment
How to cultivate empathy and understanding towards others
How to set personal and professional goals
Planning: The First Step in Market Research
A wise man once said that success doesn’t just happen, it’s planned for. But you have to plan on everything if you really want to achieve success. And then you have to work your ass off in order to act upon your plan. While planning your market research project, you should go through the phrases mentioned next.
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Phase N1: Asking yourself smart (and sometimes not so much smart) questions
- Do people need my product or service?
- Who is going to use it for free?
- Who is going to pay for it?
- Are people going to pay for it at all?
- How am I going to convince them to pay?
- Is my pricing fair and competitive?
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Your Potential Customers
You will have at least three people in your life who are going to support you whatever crazy idea you have. They are your mom, your partner, and your best friend. But these people are not your potential customers.
Your potential customers are people whom you don’t even know. So, go get to k...
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Phase N2: Decide what kind of data you should be looking for
Based on the above questions, you can come up with a few good ideas regarding where you can start your research.
For example, if your existing users seem to be abandoning the app because of the high prices on selected Premium features, you might want to reconsider the pricing or think a...
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Phase N3: Form a hypothesis for your market research project
Before diving into surveys, interviews, and stuff like that, make sure to form a research hypothesis. It’s like predicting what the results will be. And be prepared to be astonished by the results. A lot of the time, your expectations won’t match with the actual data. And that’s perfectly OK.
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Research planning: Choose your data and methods
At some point, you'll need to consider which data source and analytical strategy are most likely to give the answers you need.
- Consider whether your question would be best addressed by qualitative data (interviews, observations, or historical re...
Habit 2: Begin with the End in Mind
This habit is about having a clear vision of what you want to achieve in life. It's about setting goals and making a plan to achieve them. When you have a clear vision, you're more likely to stay focused and motivated on your path to success.
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