Why Entrepreneurship Research Is A Must

Everybody in business, even seasoned entrepreneurs, need to focus on always looking for new methods, innovation and ways to do things.

Entrepreneur published an article that outlined one entrepreneur’s journey from start to lull to unbelievable success.

Britt Menzie of Stinky Kids started out painting children’s characters and it flourished into a children’s clothing business.  Then in Spring of 2008 sales stopped climbing and eventually began to decline.

Menzie’s entrepreneurship research told her that during a time when most buyers quit buying pricey items like Stinky Kids t-shirts and hoodies for $28 -$44, it wasn’t that her products weren’t appealing, but people just had to choose between necessities and luxuries.

Menzie decided it was a time to build new business lines and geared her Stinky Kids characters toward more recession friendly products.   She will be releasing a book based upon her Stinky Kids line in 2010 and Nordstrom has already agreed to stock the book and the dolls along with toy store, FAO Schwartz.

Menzie admits that if she hadn’t faced a sales crisis, she never would have expanded her vision to include books and toys.

Remember, just because the economy isn’t doing well doesn’t mean your business has to suffer.  It may be the perfect time to dig deeper and embrace some expanded ideas.