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Startup Saturday: 20 Questions to Ask Yourself Before Starting A Small Business

[ 0 ] Jun. 22, 2013 | SBO Editor

Think that you have what it takes to be an entrepreneur and start your own small business? Before you take the plunge, ask yourself these 20 questions to make sure you’re thinking about the right key business decisions. Answering these questions will help you determine what you need to do, and help you find the direction you should go to get your new venture off the ground.

  1. Why am I starting a business?
  2. What kind of business do I want?
  3. Who is my ideal customer?
  4. What products or services will my business provide?
  5. Am I prepared to spend the time and money needed to get my business started?
  6. What differentiates my business idea and the products or services I will provide from others in the market?
  7. Where will my business be located?
  8. How many employees will I need?
  9. What types of suppliers do I need?
  10. How much money do I need to get started?
  11. Will I need to get a loan?
  12. How soon will it take before my products or services are available?
  13. How long do I have until I start making a profit?
  14. Who is my competition?
  15. How will I price my product compared to my competition?
  16. How will I set up the legal structure of my business?
  17. What taxes do I need to pay?
  18. What kind of insurance do I need?
  19. How will I manage my business?
  20. How will I advertise my business?

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Category: Features