Why Market Research is Important for a Startup

As many founders understand the importance of attracting customers and building a brand yet many of them don't feel the importance of understanding their customers and market. as a result, many startups fail to understand the need of their customers and competition in their market, which often leads to confusion and failure.
So, it is better to invest some money and time in market research before starting a business as it can provide clarity to you about your customer and help your business in the long run.
So, WHAT EXACTLY IS MARKET RESEARCH?
It is a research done by you or your company to get a better insight of your customers and market, like the psychology of your customers, buying patterns, market trends.

TYPES OF MARKET RESEARCH.
PRIMARY RESEARCH
SECONDARY RESEARCH

PRIMARY RESEARCH:- It is a research done originally by you via surveys, interview, focus groups, questionnaires.it gives you all the information about your customer and market based on the present situation.

SECONDARY RESEARCH:-It is a research already done by other sources.it is not effective as it was when it was done but can give you some basic information. you can find it cheap or free. you can find these research from various sources such as
1.Social media
2.Websites
3.Industry and trade publications
4.Newspaper and Media
5.Others

PRIMARY RESEARCH:-
While conducting primary research using your own money, there are two types of information you can get: EXPLORATORY and SPECIFIC.

EXPLORATORY:- It is a research whose nature is open-ended; it helps you define a specific problem and involves detailed interviews in which
enormous information is gained from a small focus group

BEST STARTUPS BOOK EVERY STARTUP

FOUNDER SHOULD READ 

As a startup founder, you should be always looking for answers and solutions about almost everything whether it is management, marketing or
innovation

So, here is the list of books you should read to survive the competition

1. How to win friends and influence people by Dale Carnegie

    

   I know, I know you are thinking about what influencing has anything to do about business but in business

   you have to become two person at the same time:-

   1.BOSS

  

   2.LEADER

   To become a good leader you have to become a kind 

   of guy that people want to listen.

           

 To be that kind of guy you should read this classic

2.THE LEAN STARTUP BY ERIC RIES

According to a study 65% of startups

fail due to lack of market. To overcome this problem the lean startup is the book you should read.
 It tells you how to create a MVP(minimum viable product) so that you can learn aboutthe market needs instead of spendingmillions on something that marketdon't need.

3.THE STARTUP WAY BY ERIC RIES

Another amazing book by Eric

Ries. it redefines a way by which an entrepreneur should

run a startup.

Unlike, the lean

startup it focuses on 
management then innovation.

4.CONTAGIOUS BY JONAH BERGER

A book for all marketers or 

an entrepreneur who wants

to make his product or 

service to get viral. It tells some common things and psychology about

things that get viral.

5.HIGH OUTPUT MANAGEMENT BY                                                    ANDREW S. GROVE

If you think managing a startup is

easy then my friend think again.

because the situation of startups change

continuously and so does the way of managing it. This book by ANDREW S.

GROVE gives you a mindset and

a way to manage a startup easily and smartly.

                     BUSINESS MONSTERS

                     INTRODUCTION    

                           

  

A Platform where you can learn about different types of monsters doing business to
identify which one is you and how to upgrade to another one.
There are different types of monsters but before continuing to the list let's understand what is a MONSTER.
 A MONSTER IS A PERSON OF UNNATURAL BEHAVIOUR, EXTREME WEIRDNESS AND DANGEROUS PERSONALITY.
1.It has unnatural behaviour b'coz it do something which most normal people don't feel right to do like killing a human,eating a brain or doing a business.

.2It has extreme weirdness b'coz they do weird stuff like climbing a wall,walking through the wall or hustling day or night for only some traction in their business.

3.It has dangerous personality b'coz people are afraid to mess with those who eat brain,behead people or a person who is successful.

So let's start the list:-
                                               
1.ZOMBIE


A ZOMBIE is a monster which has no idea or not enough knowledge about
what to do, when to do or how to do

Like businessmans all zombies are not same,
some are slow some are fast,
some are weak some are strong 

2.YETI
 YETI is a monster or a businessman who has a very strong presence but is limited to very specific
 region.
HE is very good at killing people or beating competition
but struggles at increasing his reach.

3.DRACULA
  DRACULA is a monster or a businessman who 
  is at top of his category.
  People are afraid of them because it is impossible 
  for people to kill him or beat him.












4.RAAVAN
 He is a monster or a businessman who has
 10 heads or 10 different souces of income.

 He is a league of his own.
 No-one can beat him.
 Only his arrogance and ego can.