All Women's Talk

7 Important Questions to Ask Yourself before Starting Your Own Business ...

By Corina

There are so many little details you need to think of before starting your own business. If you’ve always dreamed about becoming your own boss, you should know that there are a few very important questions you should ask yourself before starting your own business or before quitting your current job in order to fulfill your dream. This is not a decision you should make overnight and there are a few things you should consider before you start your own business.

Table of contents:

  1. “am i good at this?”
  2. “will i make any money doing this?”
  3. “do i have a business plan?”
  4. “am i prepared to be overwhelmed?”
  5. “do i have enough motivation to run my business?”
  6. “can i afford to advertise my business?”
  7. “do my loved ones support me with this initiative?”

1 “Am I Good at This?”

If you’re planning to become an entrepreneur, then you should definitely ask yourself this question before starting your own business. Do you have the skills, the experience or even the talent to make your business successful? Are you willing to put in all the hard work that this business might require from you? Can you compensate for your weaknesses? These are all questions you’ll need to find answers to, before quitting your job and starting a new enterprise.

2 “Will I Make Any Money Doing This?”

Remember: a business should bring you profit and if you’re also doing something that you enjoy, then you are definitely one lucky person. But, if you think that your business idea won’t bring you any money because people might not need what you have to offer, then maybe you should be cautious and think things through very carefully before making a decision that could affect your financial wellness.

3 “do I Have a Business Plan?”

This is definitely another important question you should ask yourself before starting your own business. Even if you do have a plan, you should still be aware of the fact that much of the time, things will not go according to it and that’s why, you should always be prepared to face any unexpected obstacles that may affect the prosperity of your business. If you need to get a loan or you want to convince someone to invest in your business idea, then you should definitely have a very well-written business plan that will help you get the resources you need to start your own business.

4 “Am I Prepared to Be Overwhelmed?”

A business can put a lot of pressure on you, especially if it is your own. You should ask yourself if you are indeed prepared to face all those stressful situations that might occur every now and then or if you have what it takes to overcome them with maximum results and minimum effort on your behalf. These are very important questions everyone should ask themselves before going on a new business adventure. Can you handle running your own business.

5 “do I Have Enough Motivation to Run My Business?”

Are you really prepared to start your own business? Are you motivated enough to run your business for at least a year despite of all the challenges you’ll have to face along the way? If you feel like you won’t be able to keep going for at least one year, if things take a wrong turn, then it’s better not to start a business at all, since the expenses for starting your own business are usually pretty high.

6 “Can I Afford to Advertise My Business?”

In order for your business to be successful, you’ll need to spend quite a lot of money on advertising. So, that’s why you should first ask yourself if you really can afford all the advertising costs because otherwise, it will be quite difficult to find your clients and to promote your services. Also, be prepared for unexpected costs because things might not always go according to your plan.

7 “do My Loved Ones Support Me with This Initiative?”

Have you discussed your plan with your closest friends or with your family members? Do they agree with you or do they support your decision to start your own business? Ask for their advice and really consider what they have to say. After all, they only want what’s best for you.

It’s not that easy to start your own business now days, since everyone has to face a lot of financial difficulties. But if you’re really willing to take the risk and you’ve decided you want to turn your adventure into a success, then you should be prepared to face anything that might go wrong and that could prevent you from achieving your goal. Have you ever started your own business? Do you think it was a smart decision? What other questions should someone ask themselves before starting their own business? Please share your advice with us in the comments section!

Sources:
lifehack.org
voices.yahoo.com

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