Ready to begin? 😄 This first training activity with Anthony Haddad will guide you through the process of analyzing different potential markets. In this training activity, you will learn how to 1) identify the highest potential market for you, 2) conduct a thorough market analysis, and 3) develop a clear strategy for choosing a target market.
You might feel like your market has already been chosen for you, but think outside the box 💡 What are the benefits of operating in your home city vs. another city? Could opportunities exist in other markets that are more difficult to access? Don't be afraid to dream big 💭
While you watch Anthony present, reflect on these questions:
🌻What is your current target market? Why did you choose it?
🌻What market research have you already done?
🌻What market research methodology will be most useful to you? (Hint: think from an investor's perspective).
The following articles and resources will help you conduct the necessary market research:
What's the difference between qualitative and quantitative research? (article)
This spreadsheet contains data about 82 different national markets. Is your country listed? If not, use the tools shared in this session to research your market and compare it to others!
These databases will help you check the legal requirements to access new markets (special thanks to Rhea founder of https://www.hadiyati.com/, who provided the links below):
The attached "Guidance Sheet" is a step-by-step protocol that you can follow to identify your highestpotential market, or evaluate the potential of your current market. Complete the 7 steps in the worksheet.
Looking for help? Check out the Bloom Community Page. We love helping everyone grow!