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Questions To Ask Yourself Before You Take The Plunge Into Starting A Business

So you truly believe that you are able to have a business. Why, because others have one? Or because you think you would be good at it. So did I until I failed for the first three times. Then, I got a clue. Business doesn’t just happen!!!

Before you make that move into what may be the worst idea you have ever had in life, take the following test for success. Be honest with you because it is you who will be made or broken in the process.

1. Are you organized or do you have to try to remember where your house keys are on a daily basis?

2. Do you have personal drive or do you have to be persuaded to change the channel on the TV?

3. Are you a leader or do you have trouble getting your pet to go outside?

4. How is your health? Do you get a cold when there is a 1-degree change in the weather?

5. Are you able to maintain for long hours? Or will your place of business close at noon, because you are so tired?

6. Are you mentally UP for the challenge?

7. Are you prepared for the risk involved?

8. Are you prepared to wait several months for your first prophet?

9. What is your reason for wanting to start a business?

10. Is your business your passion?

11. Who are your customers outside of your immediate circle of influence?

12. What are the demographics of your customer base?

13. Do you have the expertise you need in the business you want to start?

14. How are you going to sell what you have at a price that will return an adequate profit for you?

15. Can you obtain the necessary funds you will need to start and keep the business running without getting into a cash flow problem?

16. Do you think and plan ahead?

17. Do you have a business plan?

18. Do you know the difference between marketing, promoting and advertising?

19. Who is advising you?

20. Start writing out your plan.