By Ted Albenesius
Contributing Writer

If you are thinking about starting a business, you have probably dreamed of one that evolves around your interests. But while you may know your own dreams, what does the market need or want?

Are you noticing trends in what people are buying, or how and where they are buying goods and services?

Determining the marketability of your startup business is typically done in the context of creating a business plan and performing an analysis of your competition. Here are some areas of inquiry to help you explore marketability:

• Consider whether the business offers a new solution to an old problem or complements an emerging trend. The untapped markets that are truly profitable are few and far between; they are also riskier.

• Have a clear picture of your target market. These are the clients and companies that are likely to want or need what your business has to offer.

• Understand the benefits that your product or service offers. Can you quantify them? How much money might a customer save by buying from your company instead of someone else? Knowing these benefits will help you generate ideas for future promotions.

• Examine industry data that can confirm whether there is a sustained—and preferably growing—demand for your product or service.

Go To Team’s launch

These were some of the thoughts going through the mind of Patrick Bryant, co-founder of Go To Team Video Productions, in October 1997 when he started his new company.

Since its inception, Go To Team has provided contracted, per diem video and audio coverage of events and productions as disparate as Hurricane Katrina, the 2004 Asian tsunami, the Iraq War, space shuttle launches and “America’s Most Wanted.”

The company currently has offices and/or field personnel in major cities of North Carolina and South Carolina as well as Orlando, Fla., and Atlanta, but its home office is at 1090 East Johnnie Dodds Blvd. in Mount Pleasant.

Business and frequently subcontract this type of coverage to specialized contractors like Go To Team to relieve their staff personnel, who are otherwise occupied.

This trend, similar to the computer adaptations common in worldwide business like payroll data, often is described as outsourcing.

In June 2005, Bryant contacted SCORE seeking help in several areas of his extensive business, involving working capital, employee incentives such as stock options and other employee benefits.

At SCORE, he met counselors Steve Simmons and Roger Thompson, both of whom spent considerable time discussing various options with him. Shortly after conferring with these counselors, Bryant applied at the Charleston local chapter to become a SCORE counselor. He completed SCORE’s counselor-training program and now serves as an active counselor.

“As a SCORE counselor, I had always felt very strongly that SCORE offered terrific advice to startup and existing businesses,” said Bryant. “Last year, I learned first-hand. My business was growing and I needed some expert counseling to help me through the next stage. I turned to SCORE counselors Steve Simmons and Roger Thompson. Together we created a plan to sell stock in the corporation to certain employees. The advice was spot on and really helped Go To Team grow into its next phase of growth.”

For more information on Go To Team, contact Bryant at www.gototeam.com.

Ted Albenesius is a retired Charleston businessman and past chairman of the local SCORE chapter.

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