Market research - how do I do it?

[TechLovingDad]

I'm planning on starting my own IT consultancy business. I'll be working alongside my current day job, so mostly evenings and weekends to start. With this in mind I'm (trying) to write a business plan, getting a bit lost.
A big part of it, and whether I even have a small business market to aim at, is market research. I have no clue where to start with doing it, though?

Anyone have any experience? Should I be visiting local small businesses and leaving a survey?

Cheers.

Hi

I am currently starting up - different field - and it is difficult isn't it!

I guess you need to ask yourself:

• Who is most likely to buy your services based on your experience (ie if you have lots of experience supporting financial orgs, then it might make sense to seek them out?) *Can you access this market (ie can you buy a list/use the phone book)?
• Call/email a few and understand how they currently use IT Contractors. I would imagine you'll need to incentivise them - why would they fill out a survey to help you....

If you are going to be working alone, you might find this book helpful - www.amazon.co.uk/Starting-Your-Own-Independent-Consultant/dp/0273731173/ref=sr_1_10?ie=UTF8&qid=1300312420&sr=8-10 I loved his pragmatic approach.

The author continually refers to the power of your network - assuming you have one, could you relevant people you know give you feedback about your proposed service?

If you want to meet local people, there are lots (as I now know) of networking clubs out there. Most are fairly affordable - £10 entry etc for the first couple of meetings - go along and chat to other small business owners.

Good luck!
WS76