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DIY MARKET RESEARCH @YOUR LIBRARY

DIY MARKET RESEARCH @YOUR LIBRARY. LIVINGSTON County public libraries. Research: don’t waste your time. Bring Your Questions. Be specific as possible – that helps us help you. Stop at the Reference Desk first & get oriented. Have a Reasonable Goal.

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DIY MARKET RESEARCH @YOUR LIBRARY

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  1. DIY MARKET RESEARCH @YOUR LIBRARY LIVINGSTON County public libraries

  2. Research: don’t waste your time Bring Your Questions. • Be specific as possible – that helps us help you. • Stop at the Reference Desk first & get oriented. Have a Reasonable Goal. • Keep in mind that research is a process Research to Find, Not to Prove. • Keep an open mind

  3. More research tips Brainstorm Key Words First • Keep your mind open to others Start Specific Then Broaden If Necessary Bring • Some Cash For Printing & Photocopying • A Flash Drive • Any Work You’ve Already Done • Some Paper & A Pen • Your Eye Glasses

  4. What is market research? Disciplined Investigation aimed at discovering what is going on and what is changing in the environment; the object is to discover opportunities and threats Or simply put: Describe the market • Who are the buyers? • Who is the competition? • What’s on the horizon?

  5. Define the industry Industry Classifications: established by the US government to keep track of the economy • www.loc.gov/rr/business/BERA/issue9/codes.html SIC v NAICS • Standard industrial Classification • Established 1930s, parent of NAICS (“snakes” without the “S”) • North American Industrial Classification System • Established in 1990s by US, Canada, Mexico • Updated to reflect new industries, like IT

  6. What’s my code? Use the website for the Economic Census • www.census.gov/econ/census07/ Use Business Insights: Essentials or ReferenceUSA • Look up established business similar to yours, or • Use keywords Be prepared for “all other miscellaneous” You can use more than one code

  7. Industry overviews & statistics: who cares?! Economic Census provides a macro-view Government Agencies • Statistical Abstract of the United States • Use index and check footnotes • www.census.gov/census.gov/compendia/statab/ Business Insights: Essentials Database offering great overviews + articles from trade publications • www.mel.org > MeL Databases or • @YourLibrary website

  8. Who else cares?! Associations • Websites contain industry information • To Find: • Use Encyclopedia of Associations or National Trade & Professional Associations of the USor Google (Pricey) Market Research Reports Articles or press release that provides some key stats Investors • Find analysts’ reports through Yahoo! Finance or subscription databases @YourLibrary.

  9. Who are your customers? Demographics • Census is the basis for all demographics • Every 10 years & data is rolled out over 10 years • www.factfinder2.census.gov • www.semcog.org Create a profile of your Ideal Customer, then think about where to find him/her Direct market lists are available for purchase • ex. Direct Marketing Marketplace, or Use ReferenceUSA • Subscription database linked to Howell, Brighton & Hartland Libraries; need library card to access from home

  10. Who are your competitors?! ReferenceUSA • Many libraries subscribe; Howell, Brighton, Hartland Cromaine; call first to ask about policy • Create & print or download customized lists • One of few sources of information on small, private companies • Downloads limited to 50/search Yellow Pages, both online & print Google Local, or equivalent Business Insights: Essentials • www.mel.org

  11. Need more? Look around you • Trade shows • Chamber of Commerce • Economic Development body • Talk to your customers • Online Forums & Social Media • Network • And . . .

  12. Ask a Livingston county librarian! Visit us Call us Submit a Request for Business Information form • www.howelllibrary.org/business Motto: • Don’t pay twice! • Use your public library first!

  13. Typical Questions • Where can I get money to start my business?(often posed as where can I get a grant) • How do I incorporate? • How can I get more customers? • I want to do "x" but know nothing about itso where do I start? • How do I get a website or social media? • I have four books about business plans, I am confused? • I don't understand this financial stuff? • I need to know x?

  14. Ask a librarian Donna Olson, howell Carnegie District Library

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