How Do I Properly Do Research For My Business?

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“Until you can apply the information that you’ve learned, then and only then will you be rewarded.” – Andy Fuehl: Founder, Wealth Builders of America.

I am sure you like me have spent a lot of time for your business doing many hours of research to decrease the chance of failure. Now the fact is at some point in your business career, if you haven’t done so already, you will hit failures and roadblocks. Do not let that discourage you. I will get to more failure in another article. For now I want to concentrate on the importance of research, how to do it, and show you that unless you do something with it, you won’t be rewarded.

As the quote above by Andy Fuehl translates to, all of the information you gather will do you no good unless you actually do something with it. I have seen so many people in both their business and personal lives, gather a plethora of information to help better them, and then do nothing with it.

Let’s start with information gathering and some ways you can look for what you need and how it pertains to the business world.

Step one is to take the time to sit down and write out exactly what information you need and the questions that you need answered. For example, let’s say you want to start a business on selling cookies. Now that you know what you want to do, write a list of information that you will need when you start your research. I do not know much about the baking industry, but a quick question that comes to mind is what is a recipe or recipes that you will need?

Continue coming up with every possible question that you need answered to see if your idea of selling cookies could be a profitable one. Once you have all of your questions written down, it is time to start answering them with a little research.

Start with the internet. I know this sounds obvious, but there is more to it than that. Although I would start with Google and type in search keywords, do not let Google be the end all for your search engines. Use other search engines such as Yahoo!, Lycos and Ask.com. You’d be surprised as the different results each brings back.

After you go through searching that method visit some business oriented websites such as CNBC, Entrepreneur, Inc. Magazine or the Wall Street Journal. Contact people from those sites and ask them some questions. They will gladly help or point you in the right direction.

Keep in mind the questions that you need answered are important. The more information that you have increases your chances of success and good decisions.

Visit your local library. If you are stumped on information or need to expand on some information that you already have, visiting your local library and working with the professionals there is a huge benefit. The people that work at the library are highly trained in research. You want them on your team. If you are fortunate like me and live in a town where you can contact your librarian through their website then you definitely want to find out how. Your librarian is a resource you should not be working without.

Finally, do not be afraid to ask someone already in your business or has retired from your business. In our example we would visit a local bakery or the bakery shop in our grocery store or super market. Ask them for some advice. You’d be surprised as to the help they would give you. They are experts and I have found in the past, experts love sharing their experience.

Now that you have all of your information and are an expert in the field in which you are pursuing, if you put all that information you just gathered into a big binder and put it on top of your refrigerator to never look at it again, do you think you would ever get off the ground? Of course not. That would be ludicrous and unrealistic. This gets us back to the point Andy Fuehl made in his quote, that you can only be rewarded if you do something with that information.

Now you need to do something with the information you have just gathered. Ask yourself what is it you want to do? If you are trying to start a business, then visit the people at score.org. The free counselors there can help move you even further toward your end goal of success.

About the Author:
Mr. Tucker is a regular contributor on Bukisa, an online community for writers that pays them for their articles.  You can also follow Bruce on Twitter.

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