4 Questions to Ask Yourself Before Starting a Business
Starting your own business is no small undertaking, so it's worth taking the time to really think through the decision and plan out your strategy for the long, rewarding road ahead. Below are some basic questions to ask yourself before taking the leap:
1. Do I Have the Time?
Sure you have the passion to do it, but do you have the time? The idea is almost always the easy part; the challenge is finding the time to make that idea a successful company. Do you have time now, and will you in the future?
2. Why Am I Doing This?
What you do and how you do it isn't as important as why you do it. Why are you attempting to create and build what wasn't there before? Why does your business need to exist? Why should anyone care? These are questions we try to explore with every brand and project we work on.
3. What Differentiates My Business Idea?
People want something innovative, yet familiar. If you've come up with an amazing idea, make sure you do your research on potential competitors' products or services to ensure what you will provide isn't already out there. Then, think about how your business's products or services offer an added upside for users.
4. Can I Last 6 to 12 Months Without Making Any Money?
It's not the most exciting or fun question to ask yourself, but it's the truth. Starting a business isn't easy, and there will come times when you simply won't be able to cut a paycheck for yourself. Before starting a business, make sure you have the necessary finances and resources in place to weather any disasters that may arise before hitting your eventual success.
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