CarouselBusiness · 7 slides ·
5 Questions Before You Start a Business
Before you ask "What business should I open?", answer these five questions.
01Before you ask "What business should I open?"… ask yourself these five questions.
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- Before you ask "What business should I open?"… ask yourself these five questions.
- 1. Why do I want a business? Extra income? An asset? Independence? Understand your motives first.
- 2. What problem can I solve? Who has it, how do they solve it today, and will they pay for something better?
- 3. Am I ready for the responsibility? Decisions, resources, customers, cash flow and results.
- 4. Can I test the idea before risking all my capital? Start with a small test that lowers the cost of learning.
- 5. Does it fit my goals and resources? Market, profit model, resources, partners and risks.
- Building a business isn't a race to start first. It's considered decisions and tested assumptions.
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