Basic things to ask yourself before stating a business

[Clara]

You are right, one must ask him/herself a certain question when tend to start a business. You must ask your self that what kind of product you want to offer people?, Who will be your target audience ( male or female, kids or adult)?, What will be your business objective/goals?, How do you want to start it (small scale or big scale)?, Then your budget of the capital to start the business.

 

[Mastercoded]

ASK YOURSELF THE FOLLOWING QUESTION
AM I FINANCIALLY STABLE.
DO I HAVE WHAT IT TAKES TO SUPPORT THE BUSINESS
WHAT CATEGORY OF CUSTOMER AM I TARGETING
HOW DO I MANAGE MY STAFF
CAN I HANDLE COMPETITION WHEN IT COME

 

[Cee C Chriss]

Mostly is the actually the nature of the business,if it's something that fits into your capability.
Again how lucrative the business, everything is all about making profit.
Having a good business strategies to carry out every tasks, which is appropriate, acceptable and approved in accordajce with the business environment.
Consider your competitors too... It's really very important.

 

[adeniji]

Before going into business, these basic things must be considered.
(1). How are going to get money to start my business.
(2). Which location is good.
(3). What will the customers buy most.
(4). How would I recover if I loss my gain as a starter.
(5). What will be my profit.
(6). How much will I be paying for taxe.
All these needs to be consider before going in to business.

 

[Asma]

There are many question which a person asked her self before starting any business.
like: firstly he asked her self that why he start that business. Is it better for her or not, secondly he questioned her self that he can maintain her business in such a way that the business need. and most important questioned is that what makes its business profit or loss.

 

[ibaad]

These days, a number of businesses have entered the industry to reach out to consumers through various platforms. Hence it is important to understand the structure of the operations you want to use when starting your own online and offline business models.

 

[Igbokwe chidera]

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.

 

[Has.an_shahid]

5 questions to ask yourself before starting a business
What problem am I solving? Answer this question: My product will solve ___________________. ...
What resources do I need to get started? Perhaps your dream is to open a shop to sell your handmade chocolates. ...
Who else does that? ...
What is my "special sauce"? ...
What resources do I currently need to use to get started?

 

[adazeez1995]

These are very good evaluation questions. The most important is for you to have a passion for the business. Money should not be the number one priority at first, you just have to love what you do. Don't just do the business because others are doing it and making money out of it. Because, when things gets tough, you might not be able to surmount the challenges Ann give up. But if you love what you do, no matter the situation of things, you would always keep hope alive and overcome.

 

[Mahnoor]

That's a whole redefining of yourself.
Irma Olguin: The Person I'll Be When I'm Wealthy



Pause
Unmute

Current Time 0:25
/
Duration 1:05
Loaded: 100.00%



Captions
Fullscreen

• Player Information
• About Brightcove

x
Starting a business sounds appealing doesn’t it? You get to be your own boss, do what you love and work your own hours (which really means choosing which 10-18 hours to work). But there are things you need to ask yourself before you start a business which you may not think about in the moment.

Entrepreneur, starting new business, leadership[+]GETTY

1. Why do I want to start a business?

This may seem obvious, but sometimes we want to start a business without even thinking about the why. What sparked your business idea and is it something you are extremely passionate about doing.

. Can this business idea make me money now and in the future?

If the answer is no, then you may want to reconsider. You don’t want to pursue a business idea for it to cost you more than what you make. Yes, money isn't the most important factor, it is the outcome but it is your responsibility to ensure the business has financial viability.

 

[Profwriter]

For any business to thrive or become successful, it must be meeting a need or slowing a problem, your primary concern should be what kind of problem does your business solve? How long will that problem persist?

 

[Dorcey]

You may be asking yourself this very question. However, instead of trying to answer this broad question, I suggest instead you ask yourself the following list of 12 more specific questions.

By answering these questions you will more easily and decisively be able to answer the broader question of “Should I Start a Business.” Furthermore, if you do decide to start a business, answering these questions will give you more confidence and strength in your choice of moving ahead.

 

[tyrim88]

Things to consider are numerious when starting an outfit.The need for coming up with such business is that something has to be unique about how you do you service or about your product.
Then the finance to fund that project is very important because it will keep the business running.
Your managerial accumen in administrative issues matters.
Also your discipline when it comes to financial matters especially a new outfit requires discipline on finance.
Having a good technical knowledge on your sector or engaging a personel that you can afford.

 

[Lordfalcao]

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!

Well it’s has to be your personal preferences like your interests and purposes for going into the business of your choice the capital and profits involved are also important too.

 

[zahidhussain]

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?

The basic question that can ask me how money can invest in buisness how can manage my all financial problem how to control my all employees how to gain profits and how to control buisness if get in lost.These are basic question which can resolve before starting my own buisness

 

[Sariana23]

You are right, they are key questions that we must ask ourselves and at the same time be honest with ourselves when answering. Because if one of the answers is not correct or sincere, it can lead to business failure. The why is fundamental and without capital there is nothing to do.

 

[Rom90]

Before starting a business,we have some questions to ask ourselves
1) why am I doing this business
2) how much did I need as a starting capital for this business
3) what are the risk in involved in this business
4) Is this business profitable at all
5) is the location good enough for my business.

 

[sam386150]

There are a lot of questions to yourself before starting a business,first of all ask yourself about your level of the business idea, ask yourself about your business location,ask yourself about your product you want to start with.ask yourself about financial terms.

 

[KvngMurphy]

Before venturing into any form of business, if your main reason for going into that particular business is for profit making, then you need to ask yourself series of questions.
Can I keep up with competition?
Can I thrive on a Long run?
Can I accept losses and move on?
Can I cut my budget?
Can I take savings seriously?
If after all those questions your answer is yes, then Congratulations you are good to go.

 

[Kane]

What ultimately matters is whether you have enough funds to survive after the business collapses. You start a business with a hope to make money, but for a lot of people making money is farm from the reality.