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What are the most important questions to ask when starting a new business?

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What are the most important questions to ask when starting a new business?
posted Jan 5 by Nway Nadar

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1 Answer

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Here is a 12-question list that I put together:

  1. How much cash will I have at risk?
  2. How much time will it consume?
  3. How much energy will it take?
  4. Do I currently have other obligations that will prevent me from giving the business 100 percent?
  5. Would there be a much better time for me to start a business other than now?
  6. What are my alternatives if I don’t start a business now?
  7. What are the chances of success?
  8. Am I looking at starting a business from a position of relative strength – feeling good about myself and feeling I am relatively well off – or am I looking at starting a business from a position of relative weakness – recently laid off from a job and being behind on my bills?
  9. Can I test-run the business part-time before quitting my job?
  10. Should I choose between a higher-risk or lower-risk businesses?
  11. Suppose my business provides less income than I expected. How long should I stick with it?
  12. If the business doesn’t work out, how easily will I be able to pick myself up and move along to the next endeavor?
answer Jan 8 by Abu Anam
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