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Resource Center > Article
12 Important Questions to Ask Yourself Before Starting a Business
9 Dec 18 Posted by: Todd Hatch
in General Information
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Starting a new business is usually an exciting time for every entrepreneur.

But just diving into a new venture without planning can be a disaster.

An article from Businesstown.com explains that it's important to ask yourself these 12 questions:


  • How much cash will I have at risk?

  • How much time will it consume?

  • How much energy will it take?

  • Do I currently have other obligations that will prevent me from giving the business 100 percent?

  • Would there be a much better time for me to start a business other than now?

  • What are my alternatives if I don’t start a business now?

  • What are the chances of success?

  • Am I looking at starting a business from a position of relative strength – feeling good about myself and feeling I am relatively well off – or am I looking at starting a business from a position of relative weakness – recently laid off from a job and being behind on my bills?

  • Can I test-run the business part-time before quitting my job?

  • Should I choose between a higher-risk or lower-risk businesses?

  • Suppose my business provides less income than I expected. How long should I stick with it?

  • If the business doesn’t work out, how easily will I be able to pick myself up and move along to the next endeavor?


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12 Important Questions to Ask Yourself Before Starting a Business

 

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