20 Questions Before Starting a Business
Many people dream of having their own business. To see if starting a business is right for you, ask yourself these important 20 questions. Your answers will help you determine if you are ready to become a small business owner or where you need to spend more time in planning.
- Am I prepared to spend the time, money and resources needed to get my business started?
- What kind of business do I want?
- What products/services will my business provide?
- Why am I starting a business?
- What is my target market?
- Who is my competition?
- What is unique about my business idea and the products/services I will provide?
- How soon will it take before my products/services are available?
- How much money do I need to get my business set up?
- How long can I have to finance the company until I start making a profit?
- Will I need to get a loan?
- How will I price my product compared to my competition?
- How will I market my business?
- How will I set up the legal structure of my business?
- How will I manage my business?
- Where will I house my business?
- How many employees will I need to start up?
- What types of suppliers do I need to contact?
- What kind of insurance do I need to invest in?
- What do I need to do to ensure I am paying my taxes correctly?
