Did you know, according to the U.S. Bureau of Labor Statistics, six in ten businesses shut down within the first four years of operation? Do you know what those four in ten surviving businesses did that separated them from the rest? Before you begin to develop and market your product to the world, you must adequately know your market. Starting up a company is a time-consuming endeavor. Many entrepreneurs rush into the development phase of their product or service prematurely. They themselves believe that their product or service is brilliant idea. But, then when they get to the market, they realize that this seemingly “brilliant” idea was not what the consumers wanted. Unfortunately, this happens more often then you would believe. I have developed a 3-Step Method to determine how well your business will do. Google provides great services for an entrepreneur looking to gauge a particular consumer base. One of the most important ways to gauge your market is through a survey. There are many ways to do this. You could simply go to a coffee shop and ask people about their tastes and preferences for a particular product related to coffee. But, in our Internet-savvy world, there is a much better way to gauge your audience. A brief overview of the 3-step method: 1. Using Google Sites, set up a landing page, which describes your product or service, has at least three survey questions on it and has a contact email address. 2. Using Google Adwords, make at least three ads that contain catchy descriptions of your product and have a link to your landing page created in Google Sites. 3. Using Google Analytics and data provided in Google Adwords, analyze the data and results to see whether your business is viable. Read the introduction for Market Research here. Read about the 3-Step Method: Step 1, Step 2 and Step 3. Enjoy!