Part of developing any business idea into a successful company is understanding the addressable market for it. The best ideas often have clear answers to the following questions: Who is the most likely to purchase from you with the least amount of convincing? Who’s already spending money on products like this and what are their defining qualities? To develop a deeper understand of who your business idea can serve, you can: 1.Use technology to conduct a competitive analysis of other businesses in the same space. This is the process of identifying and evaluating other companies providing similar solutions to your…
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