Here is my article on how to test the market for new business ideas without spending a lot of money.
While I believe all of the advice in that article is good — I did write it, after all — I also think that there comes a time when you have to stop researching and start doing.
I started Hive Marketing after a week’s worth of contemplation, and I did very little research. Part of the reason for that was the fact that what I wanted to do (help hotels with social media) wasn’t being done yet in early 2009. I knew that I could solve a problem that would soon begin to matter for hospitality companies — how to add new marketing channels into the mix while simultaneously cutting sales and marketing staff. And so I took the chance that the market would catch up. I was right.
My point isn’t to throw caution to the wind, but rather to trust yourself. Even if you are off-base (I was about a year too early for the critical mass of my clients), you can adjust accordingly.