Before starting new business - think
1. Is This the Business I Want?
2. Where Will I Be 5 Years from Now?
3. Is this How I Want To Spend My Time?
4. Am I Willing to Put In the Necessary Time to Run this Business?
5. Is There a Market for My Business Idea?
6. Will Licensing and Registration of My Business Idea Be a Problem?
7. Do I Have Family Support?
8. Will this Business Support Me?
9. Where Will I Locate?
10. How Much Will I Need to Start My Business?
11. How Much Will You Need for Monthly Operating Costs?
12. How Will I Finance This Business?
13. Will I Need Employees? How Many?
14. How Will I Get Customers?
15. Will I Need a Website?
16. What Will I Name My Business?
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Comments (18)
Prince Ade-Johnson1
Internet/Mobile Marketing Consultant
Great and insightful questions. This is a great nuggets for any who-be entrepreneur or netpreneur.
Mike Grady3
Entrepreneur
The business plan is the name of the game, without it you are lost.
Kevin Bru7
It's All Up to YOU! Act NOW!
This article is a great outline of how to create a business plan. Refer to all of these, don't skip over any. I see newbies all the time entering into a business so that they can have more time with their families, but they pick a field, like MLM, that is a monster consumer of free time.
Rev. Nathan Von Grif...11
Strategic Consultant Closer
One other question could be included in all this. How will I design my Small Business Plan? If its going to be short term; it may have a different format from the long term version. This is a fantastic first article with lots more that can be followed up on.
Harish M.8
Seo freelancer and web development
Thanks again everyone for appreciating my article, I would further elaborate each and every step in my upcoming articles.
Tanveer Hussain Baba...12
Journalist , OJC , E,Marketing
Excellent Article for Newbies as well as for Expert, i like it because it gives me lot of guide lines.
Sig TeamSig7
Marketing
I agree with you Pat on this.
Pat DeLeonibus3
If everyone who wanted to be an entrepreneur asked themselves these questions and answered them honestly, there would be more success stories.
Rodney Lee Smith7
Internet Marketing Consultant
Great Business outline. There should always be careful thought given to starting a business even an online one.
Harish M.8
Seo freelancer and web development
thanks everyone for the comments.
Paul Hines16
A New Path to Financial Empowerment
Very relevant points, good article.
Cheryl Baumgartner12
Medical Billing/Coding/Insurance
If more people would take the time to not just answer these questions but answer them honestly. There are no shortcuts to building a successful business. Many businesses look successful and fail within a year or two or even months because the foundation that they are built on is unstable.
Fred Mugone15
Affiliate marketing
Great job Sushil. Due diligence before starting any business is a must and by asking and finding answers to these questions, eventual business success is assured.
Jaafar Mahmuddin6
Good job, Sushil...you have outlined very well the necessary due diligence before one jump into a commitment.
Daryoush Ashtari7
Director
All are important points.
Mohann Krish6
Very relevant questions before starting any business. Each of these questions needs to be explored in depth. However, one should never exclude a vital question: How will I exit and when?
Ginny Williams8
Affiliate and Network Marketing
Great article and great tips to go by. Thanks for sharing it with us!
Malok Mading10
Writer and Blogger.
A nice thought-up.A through business plan is crucial to the fail or success of any business.Good work Rajput!