Business start-up questionsQuestion 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
© 2007, Small Business Network, Inc., All Rights Reserved.
Subject to the Terms of Use of AskJim.biz |
AskJim ID: 499
|





