The First 21 Questions Any Prospective New Small Business Owner Should Ask
Have you ever played 20 Questions with yourself about a new business venture? Yeah, me, too.
Do you still think you have what it takes to be an entrepreneur and start a new business? Great! Now, ask yourself these 21 Questions to make sure you’re thinking about the right key business decisions:
1. Why am I starting a business?
2. Am I prepared to invest the require amounts of my life’s precious resources of self, time, effort, energy, emotion, intellect, property, and people needed to get my business started?
3. What kind of business do I want?
4. Where will my business be located?
5. What products or services will my business provide?
6. Who is my ideal customer?
7. Who is my competition?
8. What differentiates my business idea and the products or services I will provide from others in the market?
9. How will I brand, market, and advertise my business?
10. How many employees will I need?
11. What types of suppliers do I need?
12. How much money do I need to get started?
13. Where will I get my startup capital?
14. How soon will it take before my products or services are available?
15. How long do I have until I start making a profit?
16. How will I price my product compared to my competition?
17. How will I set up the legal structure of my business?
