Are You Ready To Take The Entrepreneurial Leap? 25 Questions To Ask Yourself
I remember sitting in class in college (an Intro To Entrepreneurship class…ironically one of only two business classes I ever took the other being Marketing) and occasionally a “real life” entrepreneur would come in and tell us what he or her has learned from the trenches.
The term “real life” I have always found funny sort of like a guide with a safari of tourists looking through a fence saying, “Shhhh not too much noise. That is a REAL entrepreneur!”
After starting four companies in four different ways (One a solo venture, one a partnership, one a mess, and of course The Rise To The Top), I figured it would be helpful to all entrepreneurs whether you are jumping into your first, fifth or hundredth company to at least consider answering some of the questions below even if you don’t have a fancy business plan.
In the end, I PROMISE it will save you money, time, aggravation, frustration, and give a little structure to the entrepreneurial dream.
In no particular order….
1. Can I remove myself from this business or will I always be a part of it?
2. Can I work “non normal hours” including nights and weekends if necessary?
3. Do I have 6 months extra cash reserves?
4. Do I have a list of trusted professionals (lawyer, accountant, etc.) or do I need a referral?
5. Can I take criticism?
6. Who are my mentors and go-to people when I need help?
7. How will my business make money and what are the alternative revenue streams? (*I know captain obvious here but I’ve made that mistake, have you?)
8. Do I work better alone or in groups?
9. What things do I LOVE to do on a daily basis?
10. What things do I HATE to do on a daily basis?
11. Who is doing the books and keeping finance in order?
12. How far in advance am I planning? 6 hours? 6 days? 6 years?
13. How much time will my business require of ME?
14. Do I plan on on selling my business?
15. What is your web strategy?
16. Am I also marketing my business, product or service or soliciting help?
17. Do I have a plan for hiring your first employee?
18. How am I going to generate buzz for your business?
19. Where is the start up capital coming from?
20. Will I be investing my own money?
21. Am I prepared to deal with the emotional toll of the ups and downs of businesses?
22. Where am I getting answers to my entrepreneurial questions? (Such as blogs, The Rise To The Top *wink*)
23. Who are my favorite entrepreneurs and why were they successful?
24. Why is my business unique?
25. WHY am I starting my own business?
…if you can’t quantify it…it will be tough to do it.
What are some more questions that I missed?
categories: David's Blog
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