Asking yourself some good questions, and answering them honestly, are invaluable to your overall success or failure when starting a business.
So for those of you who have not actually started your business, I have a collection of questions you need to address before you start spending any money on your new business.
Five questions to ask before starting a business
1 – Am I self motivated? When you are the CEO, there is no one else to tell what to do, how to do it or when to do it. It’s just YOU all by yourself! To get the business off the ground you will need to stay highly motivated for long stretches of time to make your dream come true. This is easier for some than it is for others.
As far as I was concerned, I knew that if I was able to be motivated enough to go work for someone else – and make THEM rich – then I can be motivated enough to wake up each and every day and make MYSELF rich. That was my simple philosophy concerning “self motivation”.
2 – Do I enjoy a challenge? Owning a business can, and many times does, challenge you to problem solve various issues in order to have success. When you are new, there is no “operations manual” that you can refer to in order to make a problem disappear. Instead you need to think on your feet and find solutions that are not always easy to find.
3 – What are my strengths and weaknesses? Understanding what you are good at, and what you aren’t all that good at, will help you out quite a bit once you get started. In particular it helps you better grasp what you should do by yourself and what needs to be performed by outside help.
4 – Who will be my ideal customer? Every business needs customers to survive. The most successful businesses know exactly, down to the last detail, how to describe who their best customers are. In my commercial cleaning business start-up phase my ideal customer was a doctor’s office, which was small to mid-sized and needed service multiple times per week.
5 – Will I be doing work that excites me? Running a business is a long-term commitment that requires a lot of work and effort. So it goes without saying that it will be more fun and rewarding if you enjoy the task at hand.
So opening a cleaning business is MUCH more enjoyable if you like cleaning in general. This is key because when individuals are fully engaged in doing something rewarding it helps to motivate them to keep going even when things get tough.
Well this wraps up “five questions to ask before starting a business”. I’m sure there are many other questions that could be added to this list! If anyone has one that they wished THEY ASKED before getting started, feel free to leave a comment below and get the conversation started.