Starting a business requires careful planning and understanding what you can do to address the need of the market. However, it is not easy. There are a number of things that you need to consider.
If you are thinking of starting a business, here is a comprehensive list of questions you need to ask yourself to help you plan, think through, and operate your business successfully:
Questions to Ask When You’re Just Thinking of Starting a Business:
- Why do you want to start a business and become an entrepreneur?
- What are your goals, interests, wants and capabilities? What do you want to achieve?
- What are your expectations for the business? How realistic are these expectations?
- Where do you want the business to be in the next five years?
- What are your financial goals? Are you prepared for the roller coaster ride of self employment income?
- Have you thought about what’s possible? Are you prepared to break new grounds?
Questions to Gauge Your Readiness for Starting a Business
- How prepared are you to be an entrepreneur? Are you prepared to spend the time, money and resources needed to get your business started?
- Are you a self starter and self motivated?
- Do you have the will to take your big dreams to fruition?
- Are you willing to take calculated risks?
- Do you know how to sell?
- Are you prepared to wear many hats? You may call yourself CEO, but at the start, you may also be the bookkeeper, janitor, secretary, and marketing person.
- If you will be working from home, can you weather the isolation of working solo?
- How flexible are you? Are you prepared for the changes that entrepreneurship brings? Are you also prepared to respond to the shifting demands of the marketplace?
- Do you see opportunities when others do not?
- Can you create an organized work environment?
- Do you have the discipline and focus that successful business ownership requires?
To read the full list, read “How to Start a Business”