20 Questions To Ask Yourself Before Considering Starting Your Own Business.

The First Step to Starting your business is knowing if you are prepared to start. Answering these Questions will show you how much more research you'll need to do or whether you are ready to get the show on the road. Don't Panic!!If you aren't prepared its ok!! It's a long journey but doing it the right and long way is better than doing it quick and wrong.

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? (Online or will I Rent a Physical Storefront)
8. How many employees will I need (If you choose Storefront)?
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?

-Questionaire provided by Black Enterprise