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Starting a Market Research Firm Solo: How to Acquire Clients?

Nripen Bhatt | Answer |Ask -Follow

Start-Up Expert - Answered on Nov 10, 2024

Nripen is the founding director of Rafts and Rivers LLC, a Texas-based global higher education think tank.
He has 25 years of business consulting experience and is currently mentoring over 100 start-ups, helping students turn their ideas into successful businesses.
Through his company, Nripen is supporting and managing 107 incubation centres and accelerators located within state and central universities in India.
An alumnus of the Indian Institute of Management, Calcutta, Nripen is an expert in fintech, edtech, food technology, retail, B2B, product and service launch strategies, app development and UI development.... more

Asked by Anonymous - Nov 08, 2024Hindi

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Hi Nripen Sir, I am started my own market research(Secondary Research) firm bootstrapped without team and working on it. I want to know how to do customer or client acquisition. I have 10 years of market research experience. I am sole person to handle this. Also, I want to know do i need investment for this type of firms.

Ans: Let me congratulate you first, it is an excellent initiative you have taken, there are several firms in Market Research but there is always a demand for a genuine data driven research firm.
Initially you do not need a big team, you can handle solo, and when you require first go for management undergraduates as interns.
If you work smart client acquisition and retention will be really easy and smooth you can go step by step:
Create a one-page professional website, keep your clients’ segment in view and develop the content accordingly. Define methodology and tools in such a way that potential clients should relate immediately with their requirements. Don’t write lengthy content. Be precise be crisp.
Use business email id only.
Get very smart stationary printed, letterheads over 100 GSM, nice envelops, attractive business cards etc.
Search the websites where startups are registered such as startup India, start in up, istart etc., you will find a lot of startups who are in Launch phase or in Growth Phase, both look for secondary market research.
Exporters can be your potential clients.
Tourist planners.
Medical startups.
You have huge market for your service, start from here and you may ask time to time for further steps.
All the best

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I am 30 years old having 8 years of experience on corporate Investment banking. I grown-up in business family background. Having good knowledge of manufacturing business. My dad was having handmade footwear business and i have now intrest in Food manufacturing snacks buisness. But had never done sales side need how to setup sales team.

Ans: Investment banking is a good place to get solid business ideas, access to funding and building a network including finding co-founders with complementary skills and experience. You may want to first validate your idea in food snacks and flesh out the contours of your idea first. I would recommend being part of a good business incubator and also find mentors who have a background in food /snacks business who are willing to guide you in this journey.

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Question by PRASHANT - Apr 11, 2024Hindi

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Franchisee with IIFL as a sub broker i am doing but my clients list is few how can i increase my client nos.

Ans: Hello

1. First identify your target segment in terms of people whom your products serve in terms of annual income, profession.

2. Reach out to those target through network of friends and family.

3. Talk to your existing clients and ask them to refer you to their network. Happy and satisfied customers are best referral source.

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How to start digital Marketing company

Ans: You need to have skills in digital marketing to start the agency. Start with 1-2 clients, without worrying too much about the fee. Deliver results and then use them as a reference case to market to others. Slowly build more clients and your internal team. Also inch up your fee with each successful assignment till you get to the optimal/ market level

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MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Apr 04, 2025

Asked by Anonymous - Apr 04, 2025Hindi

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I am in 11th standard. I love graphics and 3D animation. Is BDesign a good course to pursue? What are some of the best colleges to study BDes in India? I want to do BDes in animation. What will be my starting salary? My parents are not convinced and want me to do a regular course. What should I tell them?

Ans: Hello Dear.
I am glad to hear that you love 3D animation and graphics and want to pursue a career in it. Many colleges offer diploma courses in this field. If you are an expert, salary is no barrier in this profession. Your parents are understandably not convinced, as you mentioned. It would be wise to focus more on your upcoming state-level and national-level engineering entrance tests to secure admission to a promising computer-related B.Tech course. While pursuing your undergraduate degree, you will learn more about coding, which will enhance your skills in 3D animation and graphics. Merely learning software and its applications will help to build your career to some extent, but in the long term, the chances of failure are higher. Listen to your parents and prioritize admission to top-tier engineering colleges. You are still young to make a life-altering decision at this stage. Best of luck for your bright future. Thank you.
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Prof Suvasish Mukhopadhyay |542 Answers |Ask -Follow

Career Counsellor - Answered on Apr 04, 2025

Question by aman - Apr 03, 2025Hindi

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Hello sir Sir me 2022-23 me 12th pass ho gya tha par mera 75% nhi tha to me 2023 me jee nhi diya. Uske bad me dubra 2024 me improvement de aur first time jee mains April attiamp diya ( appring dal ke) To kya sir me 2026 me jee mains de skta hu

Ans: Yes, a Higher Secondary candidate who passed their Class 12 exam in 2024 can appear for JEE Main in 2026, as long as they also passed in 2025 or are appearing for it in 2026.

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Insurance, Stocks, MF, PF Expert - Answered on Apr 04, 2025

Question by stuti - Apr 03, 2025Hindi

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I have worked for 5-6 companies from 2000 and each of the companies had PF ; while the most recent ones are aligned and carried forward some very early ones are not ; how do i check the amounts in each of the accts AND align/ carry forward all my PFs into one account(under UAN #) ? i have all PFs nos and other details

Ans: Hello;

If you have an active UAN then you can easily link your previous pf accounts to your UAN by following simple process given on EPFO portal.

You need to access the EPFO portal, navigate to "One Member - One EPF Account (Transfer Request)," verify your details, and initiate the transfer request, ensuring you have your old and current employer's details available.

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Question by Shailu - Apr 03, 2025Hindi

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Hello sir Iam 27 years old I have completed my bsc biotechnology in 2018 I have career gap now I want to start my career my doing a job but how to start from where to start iam not getting it which job suits me please suggest me some courses and jobs

Ans: There is a huge gap of 6+ years. Either go for M.Sc Biotechnology or prepare for competitive exams if your age permits. At least do an online MBA for enhancing your qualification. Best of luck. Professor.........................:)

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Career Counsellor - Answered on Apr 04, 2025

Question by Aayush - Apr 04, 2025Hindi

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I have given 12th for the FIRST time in 2024 and gave improvement in 2025 Am I eligible for jee advance 2026

Ans: Yes, a Higher Secondary candidate of 2025 can appear for JEE Advanced in 2026, as the eligibility criteria allows for two consecutive attempts after passing the Class 12 or equivalent examination. So you can appear. Professor........:)

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Insurance, Stocks, MF, PF Expert - Answered on Apr 04, 2025

Question by AYESHA - Apr 04, 2025Hindi

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MY PF IS OF YEAR 2008 WHEN I LEFT JOB I DONT HAVE PF NUMBER ,AADAHR WAS NOT AT THAT TIME HOW CAN I GET MY PF

Ans: Hello;

Contact your employer at that time. They may have records of past employees.

Else visit the EPFO office where your PF account was held and seek support for getting your pf account details.

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Insurance, Stocks, MF, PF Expert - Answered on Apr 04, 2025

Asked by Anonymous - Apr 04, 2025Hindi

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I am an 22 year old commerce graduate. I got a job in December. My salary is Rs 16,000 per month. I am ready to invest Rs 2,000 per month. Should I invest in an RD or a chit fund? What about SIPs or mutual funds? Please suggest where to invest and how it can help me.

Ans: Hello;

Chit funds often turn out to be cheat funds so a strict NO.

A RD with a PSU bank is a good way to begin your investment journey.

I recommend you to look at SIPs in mutual funds after your RD matures, you have 6 month of expense coverage as emergency fund and you have bought term life insurance.

Also don't forget to open and invest in NPS for retirement planning.

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Insurance, Stocks, MF, PF Expert - Answered on Apr 04, 2025

Question by Shubham - Apr 04, 2025Hindi

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Sir, Age: 26 Subject: NPS ( National Pension Scheme) Scheme Choice : LC 75 ( Aggressive Auto Choice) Tier : Tier 1 Pension Fund: ICICI Prudential Pension Fund Current value of scheme : Rs. 57927/- Investing Rs. 5600/- on a monthly basis My goals: Want my portfolio to beat inflation and provide a pension of Rs. 1 lakh monthly ( in hopes that beating inflation value of Rs. 1 lakh does not decrease over time) Time horizon : 34 years Questions: 1. Sir will my NPS scheme beat inflation? 2. Is the Pension Fund ( ICICI Prudential) a good choice or should I shift? 3. Will one lakh pension after 34 years be enough to support my lifestyle? (Assuming that everything pans out smoothly) 4. Judging by today's tax law income up to 12 lakh p.a. is non taxable, will I be taxed on my pension still if the law remains as is? (Hypothetical question) My details : 1.Unmarried, never planning on marriage or kids ever. 2.Current utility bills amount to Rs. 15,000 per month 3. Other expenses Rs. 5-7k per month. 4. I have other investments too, but I want to know if I can rely on NPS in old age or not. With this information alone, is retirement with NPS feasible?

Ans: Hello;

Your current expenses add upto 22 K per month.

After 34 years this amount will be 1.6 L per month considering 6% inflation.

This would need a corpus of 5-6 Cr.

Your current investment would fetch you around 1.2 Cr which is quite low.

You need to invest minimum 25 K per month in NPS to expect 5 Cr+ corpus build after 34 years. (A modest 8% return considered from NPS)

Also you may shift from Auto choice to Active choice so as to ensure 75% allocation to equity upto 50 age.(In Auto choice after 35 age equity allocation is tapered down).

You are allowed to have different fund managers for different asset classes based on their performance in respective category.

Current fund manager looks okay however you need to review performance every year.

For generating retirement corpus it is better to have 2-3 investment avenues rather then a single one.

A mix of EPF/PPF, NPS and MFs should be more appropriate.

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Asked by Anonymous - Jan 11, 2025Hindi

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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