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Is your business idea destined for success or failure?
Is your business idea destined for success or failure?
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1%
What is the first step you should take before starting a business?
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Choose a business name
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Add RecommendationAdd TagsView All Assigned TagsConduct market research
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Add RecommendationAdd TagsView All Assigned TagsSeek venture capital funding
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Add RecommendationAdd TagsView All Assigned TagsCreate a website
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Which of the following factors is important for a successful business?
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Maintaining strong customer relationships
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Add RecommendationAdd TagsView All Assigned TagsHaving the lowest prices in the market
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Add RecommendationAdd TagsView All Assigned TagsHaving no competition in the market
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Add RecommendationAdd TagsView All Assigned TagsRelying solely on one customer for revenue
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Which of the following is a benefit of conducting market research?
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It minimizes the need for customer engagement
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Add RecommendationAdd TagsView All Assigned TagsIt guarantees instant profit generation
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Add RecommendationAdd TagsView All Assigned TagsIt provides insights into customer behavior and preferences
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Add RecommendationAdd TagsView All Assigned TagsIt speeds up decision-making without information
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Describe your business idea and why you think it will be successful.
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Your Result Type is Moderate Success
Your business idea shows promise but may require some additional validation and refinement. Consider conducting market research and seeking feedback from potential customers.
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Your Result Type is Conduct Market Research
By conducting market research, you gather valuable insights into your target audience, industry trends and competition. This knowledge guides the development of a well-informed business plan.
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