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Market Research & Business Plan2021-12-20T12:29:22+04:00

Market Research & Business Plan

Market research has the power to make or break any business idea.

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Preventing liquidation of an unbalanced market will leave you in tears.

Ben Bernanke

No matter how brilliant your business idea is. No matter how much money, brain, effort and time you have invested in setting up a business in Dubai, I am afraid to say that your business still can fail. And two of the major culprits to blame for your failure could be a lack of adequate market research and unclear, poorly-devised business plan as a result.

Market Research: The mainstay of any business

Market research has the power to make or break any business idea. Setting up a business in Dubai or elsewhere without sufficient market research is no less than driving a vehicle with a blindfold on your eyes. Market research is a rough-and-ready tool to assist your business planning and help refine your marketing approach. The market research process involves various tools and techniques to evaluate the feasibility of a new product or service for potential consumers in the region chosen. This method allows business persons to explore their target market, gather and document opinions and make informed decisions. In a nutshell, market research helps entrepreneurs learn about the demographics of their target audiences to make sure they will buy the products/services offered.

Importance of Market Research

Why would you set up a barbershop in a region where the majority of the population belongs to the Sikh community? Not knowing the market and your audience before launching your products is sure to harm your business! Market research collects for you all the necessary information about your competitors and existing products in the market. The results provide you with insights into what it would take to make a mark in the industry, such as your customers’ thinking, buying patterns, and location. Furthermore, market research can also aid you to monitor market trends and keep an eye on what your competitors are doing. You are new to Dubai and being an entrepreneur in Dubai, you need good market research and accurate results, so your business decisions such as sales and marketing strategy perfectly hit the bull’s eye. That’s what makes you knock on the door of one of the best market research companies in Dubai, UAE.

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Business Plan Writing Services in Dubai, UAE

Business plans today are absolutely distinct from what they were in the days of yore. Then, crafting a business plan required you to spend hours doing market research and slowly plotting out your business trajectory. You would have to take data from myriad sources and do your own legwork. Now, luckily, you don’t inevitably have to do all that work by yourself to piece together a business plan. Many entrepreneurs entirely delegate the tedious job to some Business Plan Experts.

Looking for a business plan writer in Dubai, UAE who can come up with a great business plan using their in-depth understanding of what’s essential to your business plan, what’s appropriate for your venture, and what it takes to ensure success. Whether you are seeking help in writing a business plan for investors in Dubai & UAE, a business plan for start-up launch in Dubai & UAE, or a business plan for company registration in Dubai & UAE, Adam Global business plan experts are the answer. We are innovative enough to plot a business plan that provides you the flexibility and the ability to pivot instead of sticking to a script.

We stand out in the crowd because we are…

  • Au courant with the UAE and regional MENA market
  • One of the proud Market Research & Business Plan Consultants in Dubai, UAE who have supported numerous entrepreneurs/business owners in the UAE in achieving their goals.
  • Just the ticket if you are looking for quality market research and bespoke business plan solutions
  • The specialists equipped with 2 decades of world-class international work experience
  • With our clients every step of their way to success. The path to becoming an entrepreneur has no limits.

When we write, you shine bright!

FAQ

What are the common types of market research?2021-12-20T10:28:00+04:00

There are eight types of market research that organisations perform before introducing their products or services to their customers – Primary Research, Secondary Research, Qualitative Research, Quantitative Research, Branding Research, Customer Research, Competitor Research, and Product Research. With the help of various research methods, you can reach the desired results. Some of the most commonly used ways to conduct market research are surveys, interviews, focus groups, and customer observation.

Market research is a vast field, where should I focus when doing market research?2021-12-20T10:28:41+04:00

Market research is the process of checking the viability of a new service or product through research conducted directly with potential customers. Market research helps you to dig into the target market and get opinions and other feedback from consumers about their interest in your offerings. You may perform this kind of research either in-house, by your company itself, or by involving a third-party company that specializes in market research. It can involve various tools such as surveys, product testing, face-to-face interviews, questionnaires and focus groups. No matter what method or technique you choose to research your target market, quality research provides you a fair idea about the demand, market size, economic indicators, location, pricing, and market saturation. Research conducted using the right techniques is able to answer all your questions necessary to devise a perfect business plan. The basic ones are mentioned below:

  • Is your product or service desired in the market?
  • If yes, then how many people would be actually interested in what you are offering?
  • What is the purchasing power of the potential buyers?
  • What are the income range and employment rates in the region?
  • Where do your customers live, and where can your business reach?
  • How many similar alternatives are already available to consumers?
  • How much do potential customers fork out for these options?
  • What your potential competition or partners within the industry currently are doing? How successful have they been?
  • Can you improve upon their offerings?
What are the popular tools for making a business plan?2021-12-20T10:29:10+04:00

If you are a DIY entrepreneur in search of some useful tools and resources to put together your business plan, you are in luck! You have plenty of them at your disposal. With the right business plan tool, you will get an edge, since it lets you tap into the general knowledge in the field. From the tried-and-true deep dive into the industry to simple, one-page documents that outline the essentials, business plans can take many forms. Slidebean, Lean Canvas, LivePlan, Mindup, 99designs, Bizplan, Enloop, Lunchclub, A trusted mentor, and The Scrum method are some of the millennial entrepreneurs’ favourite tools for drawing up those business plans, no matter the style.

Suggest some great methods and strategies to come up with an exceptional business plan.2021-12-20T10:29:39+04:00

Drawing a business plan can be tiresome and requires sound business-writing skills. There are numerous methods and strategies that can make your task a lot easier, viz. SWOT analysis, industry websites & associations, Microsoft Word, a legal pad & pen and many more. Remember, your business plan doesn’t have to be 100 pages long. No need to overcomplicate things. You can’t go wrong by adopting quick and informal ways to get a business model, target markets and revenue streams on into a plan without splurging a ton of time on useless projections and models. Knowing how others have managed to come up with a solid plan is outstandingly helpful. Even if you don’t follow their steps exactly, you still get a much better sense of the framework you need, as well as a look at any potentially unseen hurdles ahead.

How can a business setup consultant help me in writing a business plan for my organisation?2021-12-20T10:30:08+04:00

Your entrepreneurial journey begins with an almighty and persuasive business plan. You can reduce the time and effort it takes to write a comprehensive business plan by hiring a pro business plan writer in Dubai, UAE. Your hand-picked Dubai-based business plan writer will first evaluate the business idea you will present and then will collect data about your new venture before developing a solid financial model. Once the financial model is ready, they put it to the test to challenge it and then optimise it as required. After getting approval by all parties only, the experts build your detailed business plan in Word and provide you with the final documents within 6 to 8 weeks, depending on the complexity of the business model.

What are the main ingredients of a perfect business plan?2021-12-20T10:30:48+04:00

A business plan is nothing but a written outline of where you currently are and how your business will develop. This plan revolves around the framework of your organisation along with the history and goals of your business. A complete business plan should act as a guide to how you operate the business and as a proposal to potential investors. A full-fledged business plan starts with the Title Page and ends with the Financial Picture (business funding). In between, you mention Mission Statement, Executive Summary, Market Strategy, Competitive Analysis (SWOT), Design & Development, and Disaster Management. These are some other vital components of the blueprint of your business plan.

While your business plan is a reflection of your business, you must ensure you sum it up in a way that does not look too bulky or equivocal. You’ll also have to modify the plan as your business evolves since the business plan is a living strategic document for your organisation.