Researching the Market: To start, you need to understand the market you’re entering. This includes researching the market size, growth potential, and trends. This will help you identify areas of opportunity and develop a strong business plan.
Identifying Your Target Audience: Once you have a good understanding of the market, it’s time to identify your target audience. Who are the people most likely to buy your product? What are their needs and wants? Understanding your target audience will help you tailor your product and marketing efforts to their specific needs.
Understanding Your Competition: No matter what market you’re entering, you’ll have competition. It’s important to understand your competition, their strengths and weaknesses, and what they’re offering. This will help you find a way to differentiate yourself and stand out in the market
