Dummies Guide to Startups - Research Methodology

'Methodology' is a big word that basically means approach. All you really need to know for this is that you need at least one hypothesis - another big word for a what is just some statement that you're trying to prove.

The easiest one is around whatever you're planning to base your startup on. e.g. You want to sell niche jelly beans, then your hypothesis would be something like "There is a gap in the market for little jelly beans made of mud...". Who cares if there isn't. Your aim is to find out whether you're right or wrong before you go off and start a mud factory employing tiny little jelly bean engineers!

So here's your basic research methodology

• Create a hypothesis


• Decide on appropriate research technique


• Decide on realistic level of detail you need/want


• Plan timeframe


• Get on with it!

For any startup, I'd suggest you expand also your research to include general learning about what it is you're trying to do. Refresh your knowledge about whatever specialist area you're entering. If it's jelly beans made of mud, then I guess that's where you have to start!

I'll discuss what we're doing in terms of research with USP in the next post.