Practical research

Organising your research

Once you've begun to gather business information, start creating files with different headings, such as "location", "sales and marketing", "financing", "design", "office equipment" and "conferences". Put clippings from trade magazines and newspapers, and any other relevant material - such as notes from your person-to-person research - in these files. Ask your friends and family to keep an eye out for articles that have to do with the business you're envisioning - you'll start accumulating valuable information that way. Also, get yourself on the list to receive newsletters that cater to people in the business you're interested in, and keep these in an accessible place.

Create a filing system on your computer. Keep the information and tips you've found while browsing the Net in your computer files, or you can print out the information and file it.

Research by doing

The best type of research is gained through practical experience. If you are planning to open the same kind of business that you've worked in as an employee, then you'll have less to check out. But if the business you're thinking about represents a completely new career for you, you would definitely benefit from real work experience in the field. For example, if you're considering a catering enterprise, get a job for a few months in the food service business. Learn about commercial kitchens and where and how to buy the best and cheapest supplies.

Next in the series

Read more from Lynne Franks' SEED Handbook: the feminine way to create business.