Questions to Ask Before Starting a New Business

Questions to Ask Before Starting a New Business
There are many reasons to start a business, such as, living a dream, dissatisfaction at your current workplace, change in life circumstances, the list goes on. However, not everyone should start a business. Self-evaluation is an invaluable tool when determining whether or not to start a small business. There are tough questions you have to ask yourself before deciding to jump into being an entrepreneur. Before even tackling the business questions you must determine if you have what it takes to start a business venture.

List your strengths

The best place to start is knowing what you are good at, what you excel in. Make a list of all of your strengths. Make a list of all the projects you have completed. Make a list your talents. I know there are a lot of lists, but a little leg work in the beginning will save a lot of heartache in the end. Many people find it hard to think of their strengths, so you may want to enlist the help of someone you trust and that knows you well. Make sure your helper has no trouble being brutally honest.

List your weaknesses

You will also want to write down all of your weaknesses. Areas that you need more education or even areas that you may need to be more diligent, such as finishing what you start. If you are really ready to get started you may want to write a short sentence or two about how you will improve in each of these areas. It is a great way to start an action plan. Remember that you don’t want to beat yourself up, simply bring forward areas that you know you need to improve.

There are other questions you need to ask yourself. Questions about your personality, your drive, and your passions will help you determine if you have the stamina and desire to go forward. Personal questions about what matters most to you and your family, before deciding to take the plunge into entrepreneurship, is vital to your success.

Sample of questions to ask yourself.

Why do I want to start a business?
Am I in the right place physically, mentally, and emotionally to start a business?
How will I balance both family and starting a new business?
Am I a self-starter?
Do I enjoy new challenges?
What does my perfect day look like?
What would I enjoy doing every day, all day?
Am I ready to commit to the time and finances required to start a new business?
Do I have the financial and personal support of my friends and family?
Do I have the skills or the ability to obtain the skills needed to start a business?
Am I open to meeting and interacting with new people on a day to day basis?
What risks am I willing to take to be successful?

Once you determine the answer to all the questions you must ask yourself if you have what it takes, really look inside and be realistic. Then after all the inward reflection you must determine if you still want to start your own business. If you do wish to continue, feel free to look around the SO/HO site for more information. If you want to stay updated and be the first to get new articles subscribe to the SO/HO newsletter.

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