Most business owners have a vision of what they want to sell, and who they want to sell to. They even understand their value proposition.
But few have a realistic idea of how to go about targeting and capturing demand.
At best, most are competent at finding initial sales based on personal relationships and skills. But few know how to find opportunities beyond that point.
Market research is one of the most underutilized tools in the marketing toolchest, and it's the one that can solve that problem. It can pay for itself many times over, and save months of wasted effort. But most business owners would rather go with their gut, because they think market research is too expensive.
But, arguably, failure is even more expensive.