How to Conduct Market Research For Your Startup Like a Pro – YouTube

marketing and research resources This is a topic that many people are looking for. bluevelvetrestaurant.com is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, bluevelvetrestaurant.com would like to introduce to you How to Conduct Market Research For Your Startup Like a Pro – YouTube. Following along are instructions in the video below:

“Do you conduct world class market research. How do you figure out who your competitors competitors are how do you understand how to price your product that is what i gonna teach you guys how to do in this video. I m gonna teach you the strategies to get that information as fast as freaking possible because in my world speed is everything when i was starting. My company clarity.

It was a marketplace for entrepreneurs to get expert advice over the phone and every time. I would share it with somebody that kinda knew this space or were in the startup world. They d always mention. This guy.

Karl jacob s name. So eventually i emailed him. I was like hey karl every time i share. My idea with investors or other entrepreneurs.

Your name keeps coming up do you have a few minutes to chat..


And i gotta tell you that first meeting was probably the most informational jammed pack 15 minutes of the whole time. I was building clarity. Because karl had already built a company back in the late 90s early 2000s. That did something similar for a different market segment using a totally different technology stack.

And he had the experience he understood the competitors. He understood who were people today that we doing it because again his name kept coming up. So anybody that tried something similar they also went to karl so after i showed it to him the cool part was is karl eventually became a formal advisor to clarity. But i share that with you because it really showed me a faster better way to conduct market research and in this video.

I m gonna share with you three other ones that are world class that will really take things to the next level for you the first one is leveraging university students. I don t understand why every business doesn t use this there are mbas business. There s marketing students and all of them need real world experience. So that s where you come in if you approach.

The professor at the university and you can just go online and figure out who that is and just say hey i d love to give a project for your students to do i m working on this new business..


Idea or even a new maybe strategy or a specific segment of the market you re currently in i wanna give them a project that they can work on and obviously whoever does the best one maybe. There s an opportunity to hire them maybe. There s an opportunity for me to be a good reference for them. But leveraging university students to get real great market research.

You gotta understand they were taught how to do this for most entrepreneurs. I know out there i was never taught how to do it i d rather find people that are professionals that have the supervision of professors that are world class to really get that information that you need to grow your business. So the first one is leveraging colleges universities to get the students to do the work for you the second one is actually hiring people. Online there are sites like upworkcom used to be elance where you can go search there s.

A category called market research and data research . Marketing and hire people for five bucks. An hour that have done this for hundreds of other companies to go and spend tens of hours researching the different competitors. The pricing models they ve used the way they position the product and they gather all that information into one document for you to understand on how to understand your market in your startup.

I think that is probably the fastest way something i use almost on a monthly basis is just hiring somebody to do research for you so..


That you can go work on things that are uniquely qualified for you to do from a productivity point. It s amazing. It s fast and it s information rich. The third one which is kinda why i told you the karl jacob s story is finding founders that have failed before or in this case.

Founders that have actually been successful karl eventually sold that company to at t for hundreds of millions of dollars and the reason. Why that s awesome is those founders. If it s a few years removed from the time they tried the company and it failed. They re gonna be more than open on everything they ve tried they re gonna tell you who are some of the competitors at the time who they think the competition is today what was their vision.

What was their roadmap how was the strategy laid out and then they ll also maybe tell you about other people you can potentially hire or other companies. They ve seen now recently that are kinda in the space that could eventually pivot into your market to me going to founders that have been successful or failed. In that space prior is a wealth of information and those are the three strategies. I wanna share with you guys one leverage your local universities colleges.

Give those students real world projects..


So they can come out and actually be super valuable to companies instead of just studying a bunch of stuff in a book second is making sure that you use these online resources like an upwork to hire people wherever they are from europe from north america. That have the experience that do this hundreds of times a month for other companies and let them do it for your company. And then third is to find a founder that has failed or succeeded in that business. So you can really learn from them the fastest way and again the coolest part is they may introduce you to other talent to partnerships et.

Cetera. So those are the three ways for you to go from no knowledge to knowing everything about your market for your startup. So if you feel this video is useful. I d love for you to share it with somebody that needs to hear it as per usual please like and leave your questions below in a comment and i wanna challenge you to live a bigger live and a bigger business and i ll see you next monday.

” ..

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Do you know who your startup competes against? What research should you do? How about the market you serve? In this video, I share three top strategies you can leverage in your business to get ahead of your competition as fast as possible.

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MaritimeVacation.ca was my first company.

In hindsight, it should ve been a huge success since it was a vacation rental website.

Yep, like AirBNB or VRBO.

And with the first mover advantage (I started it in 1999) I should ve been primed for success.

But I wasn t.

And 6 months later the project was dead.

So what did I do wrong?

I didn t understand the market.

I just coded.

No research. No strategy.

Maybe you ve made the same mistake.

The worst part is I didn t learn my lesson after that company failed.

I did it again with NBHost.com – a web hosting company.

We spent $$$ buying servers and software with NO understanding of the market.

That shifted when I started Spheric Technologies, the company that eventually worked.

What changed?

I decided to hire a business student from a local university to help me conduct market research.

They told me EXACTLY where my ideal customers were located, and some of the major challenges they were currently facing.

That company grew by 150% year over year to over 30 employees before being acquired 4 years later.

So that s what I want share in this weeks video…

… how to conduct world-class market research at little to no cost, that s not boring to read and is quick to act on.

In this video, I go over 3 strategies to help you research your market faster so that you can move on to the fun stuff with greater clarity (pun intended)!

1. Leverage University Students
2. Hire Researchers Online
3. Past Failed/Successful Founders

Don t make the same mistake so many founders – including myself – made when I first got started.

Learn who your ideal customer is, what the competitive set looks like and the ideal way to reach out to them.

Get some help!

Here s to learning like a pro!

With gratitude,

Dan

Don t forget to share this entrepreneurial advice with your friends, so they can learn too: https://youtu.be/KCEWgq8S9gM

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ABOUT DAN MARTELL
=====================

You can only keep what you give away. That s the mantra that s shaped Dan Martell from a struggling 20-something business owner in the Canadian Maritimes (which is waaay out east) to a successful startup founder who s raised more than $3 million in venture funding and exited not one… not two… but three tech businesses: Clarity.fm, Spheric and Flowtown.

You can only keep what you give away. That philosophy has led Dan to invest in 33+ early stage startups such as Udemy, Intercom, Unbounce and Foodspotting. It s also helped him shape the future of Hootsuite as an advisor to the social media tour de force.

An activator, a tech geek, an adrenaline junkie and, yes, a romantic (ask his wife Renee), Dan has recently turned his attention to teaching startups a fundamental, little-discussed lesson that directly impacts their growth: how to scale. You ll find not only incredible insights in every moment of every talk Dan gives – but also highly actionable takeaways that will propel your business forward. Because Dan gives freely of all that he knows. After all, you can only keep what you give away.

Get free training videos, invites to private events, and cutting edge business strategies:
http://www.danmartell.com/newsletter

tags:
how to conduct market research, conducting market research, how to figure out who your competitors are, how to price your product, market research strategies…

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