If you are thinking about starting your own business just ask yourself the following questions before you do anything else and more importantly do not invest any money into your business until you can answer all of the below.
- What is your business idea? Without an idea you do not have a business.
- What is your USP (unique selling point)?
- Is your USP really unique? Can your potential customers get your product or service from anywhere else?
- If your business idea is not unque, what can you do to put a spin on things to make it special?
- Why would someone buy from you and not an already established business?
- Is your business idea sustainable? Does it have a long term future or does it have a short term life span?
- Are you 100% focused about your business idea? Are you prepared to invest your time into your business idea?
- How are you going to finance the long term future of your business?
Now you should be able to answer the simple questions above before going to the next level. If you are having problems answering these questions then answer:
Do you really have a good business idea?
Just by saying "I have a good business idea and everyone is going to buy from me because I am better than anyone else" is NOT a good enough reason. |
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