You don’t go on holiday without finding out about your destination.

You don’t accept a new job without checking the stability of the employer.

You don’t invest in a new car without checking it’s right for your needs.

You don’t develop your business without trying to discover your market size, value, potential and competitiveness… do you?

An essential element of any business strategy should be early stage secondary market research.

In order to analyse your market and make decisions on growing and developing your business, you must understand the business context you’re operating in:

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Comments (0) | | Digg This | Save to Del.icio.us | Posted by: Lisa

Tags: Branding, Entrepreneurs, Marketing, Research, Roisin Markham, Start-ups, Strategy, ThinkTank, Twitter

In tough times we need ideas more than ever before. New ideas are the rocket fuel that can propel growth, ignite economic opportunities and improve our quality of life.

INSEAD’s Global Innovation Index 2009-2010, currently ranks Ireland as the 19^th most innovative country in the world. Ireland Inc is basing its recovery on forging a new smart economy built around innovation. Crowd-sourced competitions like Your Country Your Call have recently been launched to encourage citizens to generate new ideas and proposals that could transform Ireland by creating new jobs, new opportunities and a new way of thinking.

The IDA (Industrial Development Authority) have also invested €2m launching a global campaign with the positioning ‘Ireland – Innovation comes naturally’. It is designed to attract greater direct foreign investment and stimulate economic growth. To highlight this focus, the ‘I’ word has even found its way into our political lexicon. Minister Batt O’Keeffe is now fondly known as the Minister for Enterprise, Trade & Innovation.

So what can we do locally to become more of an Innovation Nation? As part of a new series, we’ll take a closer look at innovation and how we can apply it to our businesses and our lives.

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Comments (0) | | Digg This | Save to Del.icio.us | Posted by: Jon

Tags: @ThinkTank_, Cork, Design Thinking, Entrepreneurs, Innovation, Ireland, Jonathan Amm, Lateral thinking, Management, Marketing, Strategy, ThinkTank, Twitter

Running a business without marketing is like winking at a pretty girl in the dark – you know what you’re doing but nobody else does. Marketing is the lifeblood of any business and the engine that drives demand, turnover and cash flow.

Marketing is not about boring your customers to death. When you have a personality and a story that is all your own, you can create marketing that’s a tough act to follow.  Why is it then that marketing is a bit of a hit and miss affair for so many businesses? Team ThinkTank sat down to map out  the 5 reasons why companies get it wrong when it comes to marketing right.

1. It’s not planned. (more…)

Comments (1) | | Digg This | Save to Del.icio.us | Posted by: Jon

Tags: @ThinkTank_, Branding, CMO, Design Thinking, Entrepreneurs, Jonathan Amm, Marketing, Marketing Director, Startups, Strategy, ThinkTank, Twitter

New opportunities or good-paying jobs won’t come from bailouts like NAMA. They come from start-ups. And where do start-ups come from? They come from smart, creative, inspired people who are willing to take risks and not handouts.

So if you’re considering starting your own business – or looking for ways to expand an existing one – here are three time-tested strategies you can implement to fast track growth and gain a competitive edge.

1. Discover an untapped niche that’s ‘hot’

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Comments (2) | | Digg This | Save to Del.icio.us | Posted by: Jon

Tags: @ThinkTank_, business models, Cork, Entrepreneurs, Innovation, Ireland, Jonathan Amm, Marketing, Strategic Competitive Advantage, Strategy, ThinkTank