21 Questions You Should Answer To Help You Determine If You Want To Start A Business

Discussion in 'Starting a Business' started by amwarner, Nov 12, 2013.

  1. amwarner

    amwarner
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    Hello BAF community,

    I recently wrote a blog post on my website with the same title of this thread. And I though I would share it with you because I've been noticing that alot of people have been coming on and asking business questions. I answered these questions back in December last year and actually just found them again and created a quick post about it on my blog.

    Anyway, I thought maybe some of you may welcome these questions as it may help you to determine if you want to start your own business and actually what strategies you may put in place. It's actually a good exercise and can ultimately help you determine what your purpose is for you business. Anyway, here are the questions:

    1. Why do I want to start a business?

    2. What are the three primary factors influencing this decision?

    3. Specifically what kind of business do I want to start?

    4. Am I interested in selling products or services?

    5. What are my key personal strengths--what am I better at than anyone else?

    6. What could I see myself actually enjoying doing every day and can I form a business around it?

    7. Am I a better leader or do I need a partner who I can rely on to help blaze a path for me?

    8. Am I ready to devote the necessary time, resources and capital to be successful in business?

    9. Am I in a good place physically, mentally and emotionally to dedicate a lot of time and energy into starting a new business?

    10. Do I have personal and financial support of family and friends to accomplish my goals?

    11. How will I balance family and business?

    12. Do I possess the necessary skills and abilities to start and control the day-to-day operations of a business?

    13. Do I have up-to-date working knowledge of technology necessary for efficient operation in order to keep pace in the business world? If not, where would I get it?

    14. Am I open to meeting new people and listening to a variety of new ideas?

    15. Is my past education and experience relevant to the industry I'm looking at? Is my education and/or certifications sufficient to do what I want to do?

    16. What sacrifices and risks am I willing to take to be successful?

    17. What are my financial goals, both personally and for the business?

    18. Have I made proper provisions for income and insurance (health and life) while waiting to achieve business success?

    19. Why do I believe I can make this business work?

    20. Is my business concept unique? Do I have an advantage to beat out similar competing businesses? How?

    21. Why do I believe this type of business is sustainable?

    Hope you'll find this helpful.By the way, I actually took time to answer these questions and it's actually helping me stay focused on growing my business.
     
  2. GeekGhost

    GeekGhost
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    Nice post. I'm sure it'll help those thinking of starting a new endeavor. Especially those starting out for the first time.

    Thanks for sharing :)
     
  3. amwarner

    amwarner
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    No problem. Yea, I've been noticing alot of people on here lately asking questions about starting a business. Hopefully this will be able to help.
     

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