Step 1 : Research & Analysis (1.01)

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Research and analysis is the first step in becoming a SMARTer Entrepreneur and building a better business.

Research and analysis take two main forms. Primary, where you or an agency collects and analyses facts and data directly and secondary research which is based on facts and data that has already been collected by someone else. Primary is more expensive and time-consuming but is likely to yield better results. Secondary research is less costly and quicker, but the results are likely to be less focused.

We are going to research two key areas, you and what you want to get out of the business and the marketplace you have chosen. Spend as much time and money as you can because understanding both well will give you the best chance of building a better business.