Entrepreneurs, especially independent bookstore owners, must conduct proper research in order to increase their chance to start and run a successful business. In the second episode of this six-episode run of the Resist Booksellers podcast owner Demetrius Frazier discusses the key activity to better understand the community and potential customers for your bookstore.
Two major analyses every bookstore entrepreneur should fully understand in order to fully understand your community:
- Community demographic analysis: Its important to know as much about the community you serve as possible. Answers here will determine your business model, product offering, and services.
- Business landscape analysis: It is tough to win in a chaotic or infertile business environment. Independent bookstore owners should fully understand the business climate.
To download an infographic with the key analysis areas covered in the podcast click here.
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