One of the keys for a small business’ success is to have clear guidance and a team willing to tell you when your idea sucks.
In lieu of that, sometimes a robust training course can suffice. The challenge is being able to take this training and to critically look at your idea and correct the issues. All too often we interrupt our business analysis or refuse to give truthful answers.
Getting rid of the rose-colored glasses is an excellent place to start.
In this 6-part series, the Florida Small Business Startup Network does an excellent job showing you the questions you should be asking yourself. I realize that it is easy to skim past some of these questions, but each one of these are key questions that other business owners have had to ask. Perhaps it feels like a question does not apply to you right now. However, by answering that question, now, you can often save yourself from headache down the road.
Some of the questions they start of this series with include:
- Why do you want to start THIS business?
- What experience and skills do you bring to this business?
- Have you saved any money? Enough money? How will you fund your startup?
- Are you prepared for the long hours this business will require to be a success?
- Are you a self-starter?
Theses questions deal a lot with YOU the business owner. Just as when you hire an employee, you need to take a critical analysis of yourself and decide whether or not you should be “fired” or have a “coaching conversation”.
Some of the other questions you should ask will pertain more to your market:
- Is there a demand for your service?
- What differentiates you from your competition?
- How will customers find you?
- How will you keep them coming back and use them to spread word-of-mouth advertising?
It is terrifying how many people cash out their retirements and dive into business ideas without having these basic questions answered.
We can’t stress enough how essential it is that you lose the rose-colored glasses and focus on building a business that will last. After all, time is moving forward and you don’t want to waste your life, dreams and ambitions on a plan that is a guaranteed failure.
The foundation of success is the ability to answer the hard questions.
Start the series with this video: