Love to research? Start your market research business right from home

Yes, writing business proposals, marketing strategies and market research reports can turn to be a profitable business if you really love research. The only asset needed in this business is your intellectuality and the marketing capacity of promoting your intellectual asset. However not as many other businesses, this business requires a lot of previous experience and an already established recognition to succeed as an individual in this industry. The best benefit here is that this business can be done from home and the actual challenge starts in finding the real customers. A home based research professional should start his/her business with the small business firms that outsource their market research function. Nowadays, it seems most of the small companies outsource their functions such as R&D and bookkeeping considering their limited ability to undertake such vital tasks internally.    

Hence, the logic here should be understood is that they just outsource their functions in order to minimize their operating costs, which absolutely necessitates a market researcher to practice a competitor based pricing or even a price penetration strategy if necessary. However, it is not to say that only small firms do outsource their marketing research but also some big players do it for several purposes. Their intention is not that they don’t have the ability to undertake such functions, but outsourcing is one part of their business considering their back-office supply chain operations, established business networking, Just In Time quality management practices and their time management operations.  

However big crocodiles always target some big fishes and this logic says that big companies always will focus to outsource their R&D with big BPO players in the global industry such as RR Donnelley. Hence, as a small home based researcher, you will have to always approach small fishes and have to find the best ways to keep them with you for a long time.

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