For many burgeoning entrepreneurs there is a question of whether intense research or personal intuition is the best course of action in determining the direction needed in business decisions.
Henry Ford once said, "Thinking is the hardest work there is. Which is the probable reason why so few engage in it." Even the pioneering automaker knew that research was a taxing and labor intensive process that was not necessarily enjoyable.
"If we knew what it was we were doing, it would not be called research, would it?" - Author Unknown
There is a certain learning curve that comes with developing a new business, and it is research that moves us to a point of understanding. Ceilia Green once quipped, "The way to do research is to attack the facts at the point of greatest astonishment."
It is often the vision realized through research that allows entrepreneurs to move beyond speculation to risk and reward.
However, if there is a battle it may well be between the usefulness of research or intuition in business development scenarios. Albert Einstein once wrote, "The only real valuable thing is intuition." Albert Einstein was a genius, yet he placed a high value on intuition.
Dr. Joyce Brothers understood a dynamic that many miss when she wrote, "Trust your hunches. They're usually based on facts filed away just below the conscious level."
It may be possible that the very act of research allows our intuition to somehow work through all the intangibles so that intuition can take over. I would suggest that it is not a matter of whether research or intuition is more important, but how the two processes work together.
"Intuition becomes increasingly valuable in the new information society precisely because there is so much data." - John Naisbitt
It is the very moment when research and intuition meet that they real enthusiasm typically begins for entrepreneurs. The two are ultimately allies in the process of understanding, but far too often individuals over analyze the research information without allowing intuition the freedom to understand what it somehow knows without being able to articulate.
The development of vision often occurs when the known meets the unknown and somehow understands they are compatible. The development of a majority of businesses occurred when research met intuition and found they were not enemies.
Qualitative Research Vs Quantitative
There is a time tested way to start a business. Simplifying the process, the idea is to first figure out what you love to do. The second step is to identify how you can turn that love into a business of some sort. You might sell products. You might provide services. All and all, it really doesn't matter. So long as you are doing what you like, you should be okay. This approach tends to bomb on the Internet. Yes, you want to pick an area that you love. The problem arises in selecting your service or product.
If you love a particularly subject that you can turn into a business, you need to be careful. Just because you are fanatical about it does not mean you know why other people are interested in it. If you pick out services or products based on your own interests, you are essentially hoping others are interested for the same reasons.
Hope is a vague concept. It inspires us in many ways and arguably makes us what we are. On the downside, it also causes us to buy junk business ?opportunities? for $19.95 that our common sense tells us are a scam. Maybe this will work just this one time. Yeah, right. On the web, hope is a very bad business strategy. Fortunately, there is something better.
The web is all about information. If you look long and hard enough, you can nearly always find what you are after. When developing an online business, you want to avoid hope and go with the hard facts. This comes in the form of keyword research, the most important information you need to know for your business.
People make purchases on the web because they need something. They have a problem and your goal is to provide the solution. If you have a hotel reservation site, you are solving the problem of finding somewhere to stay for people. In short, the key to success if figuring out what you potential clients or customers are having problems with.
Fortunately, they leave all kinds of evidence in this regard. The evidence is the phrase they type into Google, Yahoo, MSN and other search engines when they are looking for something. You can access this information by doing keyword research. There are plenty of tools out there, but I prefer Wordtracker. It costs money, but you can buy access to it for a couple of days for less than $10.
Once in the system, you can simply type in the root word of your site and see what people are searching for. With our hotel reservation site example, I would type in ?hotel? and run the program. There it is. A list of all of the problems your prospects are having in your business area. This is what they need help or solutions for. Your job is to provide it. If they need hotel reservations in Miami, you should provide such a service on your site. If they need them for Vegas, you better have a page for that as well.
With keyword research, you are able to identify the hard, cold evidence of what your potential clients are customers are searching for. Hope is great, but you want to stick to this list when developing a site.
Both Scott Lindsay & Halstatt Pires are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.