Basic things to ask yourself before stating a business

[Donolatunji]

A lot of folks around the globe wants to start doing business, both large and small scale but after starting out, it ends up crashing. To avoid same predicaments which failed businesses have gone through,I'm going to share with you few basics of building a solid business.
So, before you consider starting up a business which you plan will turn into a conglomerate someday, main questions you need to ask yourself includes;

1) Why are you planning to start a company? Before you do something else, this is the most important question to answer. ...

2)What capital have you got access to? Where do you plan to get your funds from,is it self funding or an investor, choose that yourself.

3) What is it that you know how to do? Your main area of concentration that will help the business in all entirety.

4) If this business didn't get to workout, will you regret it?
Will I be depressed it turns out sour, why you should ask yourself this question includes that, will you be able to brace up your self from where it ended and start all over or not.

After answering these questions genuinely(right answers),crosscheck over again like a week,then if you are settled with concrete answers. You are good to go!

 

[eojo2401]

Below are the questions I will ask myself before starting a new business. Is this business sustainable? What is the expected turnover? What is the profit margin? Who are my targeted customers? What is the pay back period of this business?

 

[redpogi16]

Yes before starting a business there is so many things you need to do before starting a business. One of it is questioning yourself, you can question yourself if you really want to do this business, how can you manage it, and what will you do if your business will fall apart. That is some question you need to ask yourself.

 

[Dubai]

Wow! This article is quite insightful. Its not but an eye opener to those of us that are looking to go into new business. You have adequately listed some things that we usually overlook before going into business. With these, many of us would be well guided and prepared for the stem ahead in our ventures. I will try to use this piece of advice. Thanks once more.

 

[Ayokex]

Before you start a business it is important to ask yourself some critical questions. Some of this questions include: do I have enough knowledge about this business? How do I run this business successfully, can I still stand if there are challenges? I'm I ready to devote my time and efforts to this business?

 

[idhans]

A lot of folks around the globe wants to start doing business, both large and small scale but after starting out, it ends up crashing. To avoid same predicaments which failed businesses have gone through,I'm going to share with you few basics of building a solid business.
So, before you consider starting up a business which you plan will turn into a conglomerate someday, main questions you need to ask yourself includes;

1) Why are you planning to start a company? Before you do something else, this is the most important question to answer. ...

2)What capital have you got access to? Where do you plan to get your funds from,is it self funding or an investor, choose that yourself.

3) What is it that you know how to do? Your main area of concentration that will help the business in all entirety.

4) If this business didn't get to workout, will you regret it?
Will I be depressed it turns out sour, why you should ask yourself this question includes that, will you be able to brace up your self from where it ended and start all over or not.

After answering these questions genuinely(right answers),crosscheck over again like a week,then if you are settled with concrete answers. You are good to go!

It's very important to know how and where you will get funding for your business before you make any move. If you don't have answer to this question you might put yourself in a tight corner when you get started. Another important question bus to know the exact capital that is required for the business.

 

[btaliat]

A business owner must ask the reason for starting up a business. Some start a business they don't have passion for. But they dabble into it because they hear the business pay. And this makes the business to run down in the first year.

 

[iamgroot]

You need to ask yourself the positive questions that can motivate you before starting a business. Do not put a question in your mind that will lower your self-confidence and give you hesitation to start.

 

[Sarfraz Ali123]

What problem am I solving?
Answer this: My product will solve ___________________. If you can’t answer that, stop there and go back to the drawing board. It’s important that your product solve some sort of need because that’s what determines the value.The book Rework likens entrepreneurship to having an itch and then scratching it. The "itch" is your problem; the scratch is your solution. Kids losing their self-esteem after hair loss through chemotherapy was my particular itch.

 

[tinalupescu41]

I think you have depicted it quite wisely. Why I will do that business ? Because I love it or have deep passion for it (better than having only money that I am after). Have enough money to start it ? Should wait until i have that or else i may fail easily. Know how to do ? Should have skills to drive that business.

 

[bolllyteee]

A lot of folks around the globe wants to start doing business, both large and small scale but after starting out, it ends up crashing. To avoid same predicaments which failed businesses have gone through,I'm going to share with you few basics of building a solid business.
So, before you consider starting up a business which you plan will turn into a conglomerate someday, main questions you need to ask yourself includes;

1) Why are you planning to start a company? Before you do something else, this is the most important question to answer. ...

2)What capital have you got access to? Where do you plan to get your funds from,is it self funding or an investor, choose that yourself.

3) What is it that you know how to do? Your main area of concentration that will help the business in all entirety.

4) If this business didn't get to workout, will you regret it?
Will I be depressed it turns out sour, why you should ask yourself this question includes that, will you be able to brace up your self from where it ended and start all over or not.

After answering these questions genuinely(right answers),crosscheck over again like a week,then if you are settled with concrete answers. You are good to go!

There are basic questions you need to provide answer to before venturing into business.The questions include,do you have passion for the proposed business,do you have the financial wherewithal to fund the business,do you have the requisite skills and knowledge to handle such business.

 

[Yousaf3814]

Maybe your dream is to open up a storefront to sell your handmade chocolates. However, that’s a lot of money you'll need up-front to open a store, especially if you haven’t tested the concept. Instead, do whatever you can do in the beginning to use as little in funds as possible to grow organically.
Sell your chocolates at farmers markets, or online if you can. When I started my company, I only had a very limited number of styles for people to choose from. Once I sold those, I used the profits to expand my collection.Think about what you absolutely need to buy in order to start, not what you’d ideally like to have in the bank. Your number to get started might be smaller than you think.

 

[shakky2]

before starting a business there are some essential awareness that you need to be aware of like conducting a background check on some factors which can help in dealing and developing the business such as the best location for such business,the successful business owners involved and the number f failed personnel involved

 

[Azhar119]

Who else is doing this?
You can’t play the game if you don’t know the players. Do a simple Google test to see who else is out there doing what you're doing. Just because someone else is out there selling chocolates doesn’t mean you can’t sell chocolates, too. However, you need to see what the competition looks like in order to decide if you can offer something better.

 

[zenith]

This is also another business plan which a good and reasonable business should have.you must have a clear vision of what you want to do and how to go about it.what you plan to achieve in the business is very important and how you plan to achieve it too.

 

[hominchen]

A business owner must ask the reason for starting up a business. Some start a business they don't have passion for. But they dabble into it because they hear the business pay. And this makes the business to run down in the first year.

A person should have passion for his own business. Business is not for a day but may take over his whole life. So decision should be wise. When people fail they start another type business but if has passion then start again after failing same thing and may be in the end success.

 

[Zevin]

In my opinion you need to contemplate on two basic things:

1. How to make my business successful?
2. What if my business fails?

If you have answers to these basic questions you are good to go. While the first question is concentrated on learning skills, acquiring tools, hiring team, etc. to make you business. The second question focuses on consequences of failuer.

 

[Nabeel119]

What’s my ‘special sauce’?
Speaking of differentiating yourself from the competition, determine what your "special sauce" is. According to Shark Tank's Mark Cuban, your special sauce is a quality about your company that stands out from the rest. For example, my headband company donates a headband to a child with cancer for every headband we sell. Our charitable donation is our special sauce because it differentiates us from other headband companies.

 

[Pattertwig21]

A lot of folks around the globe wants to start doing business, both large and small scale but after starting out, it ends up crashing. To avoid same predicaments which failed businesses have gone through,I'm going to share with you few basics of building a solid business.
So, before you consider starting up a business which you plan will turn into a conglomerate someday, main questions you need to ask yourself includes;

1) Why are you planning to start a company? Before you do something else, this is the most important question to answer. ...

2)What capital have you got access to? Where do you plan to get your funds from,is it self funding or an investor, choose that yourself.

3) What is it that you know how to do? Your main area of concentration that will help the business in all entirety.

4) If this business didn't get to workout, will you regret it?
Will I be depressed it turns out sour, why you should ask yourself this question includes that, will you be able to brace up your self from where it ended and start all over or not.

After answering these questions genuinely(right answers),crosscheck over again like a week,then if you are settled with concrete answers. You are good to go!

These are very relevant topic, especially in these uncertain times where the economy is taking a great hit because of the ongoing fight against a virus and everyone is not safe from the fallout, and the questions are great to ponder.

 

[Setfragil]

The basic things to ask youself before starting a business to make it a successful one:
-- Capital - do you have the needed capital to start the business to your own taste and satisfaction.
--- Experience -do you have the knowledge and expertise needed to make the business a succesful one.
--- Innovations - you must always come up with ideas that will make the business to compete with others in the same line of business.