10 Questions To Ask Yourself Before Starting A Business


Starting a business isn’t an easy task. Some people are made for it while others can’t last a month. Whether it’s your first time starting a business or not, there are a ton of things that you should consider.



Here are 10 questions to ask yourself before starting a business:



1. Can I see myself doing this for the rest of my life?


If a business becomes extremely successful, more often then not….you have to stick to it for the rest of your life. If you see yourself starting a business just to make some cash for a year or two, it isn’t the right business for you. Only start something that you can see yourself doing for the rest of your life.



2. Am I willing to work without getting paid for however long necessary?


This is the toughest question for new entrepreneurs to ask themselves. If you’ve worked a job especially, you are used to trading hours for dollars. When you start a business, you can work all the hours you want, but that doesn’t mean you’ll get paid for it. If you have the patience and bank account necessary to survive a few rainy months, then you might be ready.



3. Am I able to let other people down when necessary?


As an entrepreneur, you have to make decisions that are best for the company. Your company always comes first regardless of the situation. When that happens, you’re going to have to make some tough decisions in your personal and business life. If you have trouble being honest and being the barer of bad news, then entrepreneurship might be wrong for you.



4. Do you jump right back up when you fall down?


Everyone tends to handle setbacks differently. Some people give up, others find it hard to recover while some people simply jump right back up on the horse. The way you handle adversity and obstacles is key as an entrepreneur. If you have the wrong mentality from the beginning, your business will be destined for failure.



5. Why am I the best person for this business?


Every time you start a business and look for funding, investors will ask you one question. Why are you the best person to run this business? That’s an important question. Anyone can take an idea and run with it, but what makes you so special. Is this an industry you know a lot about, is it a problem you dealt with or is it because you have connections that others don’t?



6. Are you willing to wear numerous hats?


As an entrepreneur, you have to wear different hats. As an employee, you have one job that is outlined in the contract you sign with your employer once you are hired. As an entrepreneur, you sign no contracts. You have to do whatever is asked of you on any given day.



7. Do you want to be comfortable or do you want to change your life?


Change and comfort are two things that do not go well with one another. If you want to be comfortable and get your 8 hours of sleep every night, don’t become an entrepreneur. Get a day job. If you want to change your life and are really committed to it, then you have a chance to make it out as an entrepreneur.



8. How much of what I do is actually needed?


There are businesses that are needed and other businesses that are nice to have. If you’re in the category of nice to have, it’s going to be a struggle being successful. Businesses that are a necessity that people must have are the ones that end up being the most successful. You can’t create a need that doesn’t exist. You can only fulfill an existing need in the market.



9. Am I just looking to make a lot of money or do I actually care?


Money is the most illusive object in the world. If you’re becoming an entrepreneur because you heard the stories of Mark Zuckerberg and Bill Gates, you’re doing it for all of the wrong reasons. When you chase money, it becomes really hard to get. The projects that originate with passion and purpose end up making the most money.



10. Can I momentarily pause my social life for my business?


Another tough thing people have to figure out is whether or not they are willing to pause their social life for their business. If you love going out and partying with friends, starting a business is tough. You have to make some sacrifices along the way. If you always choose your social life over your business, you won’t be successful.





In this article, I shared 10 questions to ask yourself before starting a business. What are some things you wish you asked yourself before starting your business?



photo credit: Scandiacus via photopin cc


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