CompanyResearching Your Business Idea the Right Way

October 18, 2011- Gypsywing Founder Lolo Siderman explains how doing your research can save you from some painful business mistakes.

1. Ask questions and get out of your comfort zone
2. Meet new people
3. Work in the industry if possible
4. Determine the industry code and research it
5. North American Industry Classification System (NAICS)
6. Get real on expenses – you’re probably forgetting some
7. Determine and have conversations with your target customer
8. Google the industry often and check the “news”

Lolo Siderman received her degree in Business Administration from the University of Southern California’s Marshall School of business in 2010, after graduating from the Art Institute of Pittsburgh with a degree in graphic design. She has successfully started and either managed or co-managed four companies in a variety of industries, such as design, real estate services, and sports training.

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