Evaluating market research methods for my upcoming business

After brainstorming ways to find a great market to build a SaaS website for, I needed to decide which method(s) to try.

So, I broke out my Decision Assistant program again.

Before entering in the options I was considering, I looked at the brainstorming session results.  Some of the ideas were similar enough that they could be combined, some were on a slightly different tangent, and some just really didn’t appeal to me.  In the end, I added 12 of the ideas as viable options.

Options

I only had a few factors to consider, and I wasn’t really sure how they should be weighted.  I took my best guess, and will see how that goes.

Factors

After making the weighted-pair comparisons, I ended up with these results.

Results

Looking at the highest-ranked options, I’m going to try the first three and the fifth.  I decided to add in the fifth option – search niche forums – since I can do it easily and quickly, at no cost other than my time.  It may not produce a result as good as the fourth option could have, but it will be much easier to get a result.  We’ll see how that turns out.

The next step is to develop plans for each of methods I’m going to try.  I’ll discuss that in the next post.

Regarding the results I received, take them with a fair amount of skepticism.  The weightings I applied to the factors were guesses.  The choices I made in the comparisons were also guesses.  If you want to use this method to build your own business, you certainly have different skills and resources than I do.  So you are best off to come up with your own options, factors, weightings, and results.

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