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Incongruity experienced by Entrepreneurs

Many entrepreneurs who are about to launch a startup, at the very introductory stage think about what is going to happen at the end. The thought process includes how they will encash the funding in lavish parties or the big checks brought in when the company is bought under some stalwarts of the industry. While keeping up “high hopes” proves to be motivational for them, the experts have expressed this habit to be a mistake.

David Skok is a Boston area entrepreneur who has founded four start-ups and is a regular blogger touching on relevant topics reaching out to people just like him. Skok is one of the experts who is skeptical about using external factors such as accumulated wealth as a driving force for beginning entrepreneurs. He says - “The big lesson I learned was that, in the start-up world, if your primary focus is on making money, you usually won’t make money.”

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Market Research strategies

Market research is important for any business. Decisions are taken based on market research. Through market research, one can identify new opportunities, can minimize business risk and also helps to communicate with customers better. There are various stages of market research which all businesses should follow. To know more about the various stages of market research, follow:



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How to avoid unethical market research decisions

An ethics checklist along with a list of common unethical market research concerns that may arise during the research process are: Answering "yes" to any of the following questions could suggest that decision should be changed or more discussions should be conducted to ensure the business is making the most ethical decision. First, does my decision treat me, or my company, as an exception to the rule? Second, would my decision lose profits if customers were aware? Third, would I repel qualified job applicants by telling them about my decision? Fourth, does my decision meet other employee's opinions? Fifth, is my decision partial or biased? Sixth, does it divide the goals of the company? Seventh, will I have to pull rank to make others follow it? Eighth, would I prefer avoiding the consequences of this decision? Lastly, did I avoid any of the questions by telling myself that I can get away with it? Some biggest ethical concerns in market research are: First, conducting unnecessary research. Second, performing the wrong research will waste both time and money. Third, ignoring ongoing studies since Market research is constantly evolving. Fourth, Misuse of research according to licensing agreements which occurs because the user does not fully understand the limitations of the different license types.Read more about this at: 

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