To start a business is easy. To make a profitable business and running it for a long period of time is hard. To grow a business is even harder. And to maintain the growth rate of the business in a competitive world and uncertain economic situation is the hardest.
To help you to think and plan your business more effectively I love to share some of the top questions you should ask and answer before you start your business. If you already have a business these questions help you to redirect your THINKING and MAKING THE RIGHT DECISION for your business to go on the right path.
These are the questions:
- Why am I starting a business?
- What kind of business do I want?
- Who is my ideal customer?
- What products or services will my business provide?
- Am I prepared to spend the time and money needed to get my business started?
- What differentiates my business idea and the products or services I will provide from others in the market?
- Where will my business be located?
- How many employees will I need?
- What types of suppliers do I need?
- How much money do I need to get started?
- Will I need to get a loan?
- How soon will it take before my products or services are available?
- How long do I have until I start making a profit?
- Who is my competition?
- How will I price my product compared to my competition?
- How will I set up the legal structure of my business?
- What taxes do I need to pay?
- What kind of insurance do I need?
- How will I manage my business?
- How will I advertise my business?
Please give your comments if you have any other great questions. Thank you