Starting a business can be challenging, frustrating and overwhelming. Doing research and understanding the critical steps and risks can help minimize problems down the road. Careful planning can improve your chances for success and make starting a business much easier.
Questions to Ask Yourself Before Starting a Business
Why do I want to start a business? Make a list of all the reasons why you want to start a business. Go through the reasons one by one. Make sure the reasons can withstand hardship.
Can I persevere through tough times?
Am I a motivated self-starter?
Am I financially positioned to leave my current employment and have enough cash flow to cover me until the business gets up and running?
Do I have support from family and friends?
Am I willing to sacrifice and work longer hours beyond the forty-hour work week?
Do I enjoy interacting and talking with people and do I have good interpersonal skills?
Do I possess leadership abilities?
Do I have the necessary skills and experience to run a business?