Why Do Market Research

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Market research is a key step in preparing to launch a startup.

Here’s a list of reasons why it’s important to give it proper time and attention.

Quality market research will help you avoid spending time on startup ideas that have no significant market demand.

It will help you find product-market fit faster.

Quality research shows the changes in a market and what the market needs.

It shows what customers to pursue and how to promote the product.

Market research will help you find more investors.

After completing your market research, take the findings and build a slide deck showing the size, growth rates, and trends.

Reach out to potential investors and invite them to learn more about the market segment.

In general investors look for quality research and take the opportunity to learn more.

Tell the investor you are not raising funding now but only researching the market and you want to show them the results.

Present the information to the investor and indicate you are going to work on a startup in the space.

Offer to give them updates on the market.

There’s no ask to the investor so it’s easy to gain access to them.

When the time comes to raise funding, you’ll have a group of investors who are educated on your market segment.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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