How great is the British Library?! I can’t believe I’ve never been before, what an amazing discover it’s been for me. Well I’ll blog about that another time, but first of all I want to tell you about an event I went to at the British Library’s Business and IP Centre the other week.
Entitled “Practical Market Research: Test your Business Idea” this monthly three hour intensive course aims to help you identify whether your new business idea is commercially viable, and is it something anyone actually wants.
Boom! Right there – the two most important questions you should be seriously asking yourself. And, you know what – few people do. And, it’s one I’ve realised I’m not asking myself enough...
The session started with hugely informative and enthusiastic presentation by Neil Infield, Manager of the IP Centre. He laid out the challenges in the area of desk research, and how the British Library can help with their huge range of printed and online reports.
Following Neil was Victor Higgs of Managing Director at Applied Nanodetectors Ltd – a sharp, very smart and clearly seasoned entrepreneur, covering field research.
What followed was three hours packed full of great
advice. I judge these events by
the amount of notes I take. Good MeetUps for example will fill a couple of
pages of my Moleskin,
this one was nine pages of my Black n’ Red!
I don’t think this is too much of a spoiler, but I have laminated Victor’s final words on my office wall as a constant reminder to keep my business plan focussed:
- What
is the need?
- What
is the solution?
- What is the business?
If you can’t answer these questions, you don’t have a business.
Basically, the course outlined how vital research is, and how to do it on a budget - assessing the commercial viability of you new idea, applying market research to your idea, develop market research data that can be used in your business plan, and learning the key steps to carry out your own market research. If you’re a budding entrepreneurs, or are an SME, sole traders, start up or even an inventor, then this workshop is for you. The next one is on Aug 17th, and at bargain £25, it could be the best money you’ve ever invested in yourself.
Stu ;-)
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