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Business start-up questions

Question
What are some questions to ask before starting a business? 
Answer
1. Do I fail well? All businesses go through tough times. Do you have the persistence to admit something didn't work and find a way to get where you want to go?

2. Do I sell well? If you can't sell what you've created, how are you going to get others -- employees, customers -- to buy your story?

3. Is my family behind me? Your family must support you - helping maintain your optimism and nagivate the inevitable rough patches.

4. Do I have enough capital (money) to make it work? Profit is the Queen of Business, but Cash is King. Determine how much money you think that you will need - and triple it!

5. If I have partners, what will they contribute? A partnership is a marriage. Ensure that your partners contribute -- in one way or another -- as much as you do.

6. Who are my customers and will they buy? Why should anyone buy from you instead of the company they're currently purchasing a similar product from?

7. What do I do if my friends think my idea is a good idea? The best way to find out if they're telling the truth is to ask them to invest. 
Brain Trust contributor: Author of The Ugly Truth about Small Business Founder and CEO of BusinessTVChannel.com
Related Categories: Business Start Up, Entrepreneurship
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