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What to consider before you start a business

Members of the FounderSociety, a network for entrepreneurs, establish the six most important questions that you need to employ a would-be entrepreneur before devote himself entirely to his work.1.What I’m trying to solve it?The first thing you need to ask yourself before you start a business is: “What problem I’m trying to solve it?”. Often, entrepreneurs love the idea to build and own their own business, and, of course, have the corresponding economic rewards. However, if you don’t focus on solving a common problem, it is likely to fail.2.I have the time?You may have the passion and the appetite to do it, but you have the time? The idea is the easy part; the hard part is to find the time to convert the idea into a successful company. You have time now? You’ll have in the future? Now is the time to ask yourself these questions and move accordingly.3.Why do it?What you do and how you do is not as important as why you do it. Why are you trying to build something that wasn’t there before? Why should your business be? Why should we respect that? These are questions that should be of concern to you in whatever you’re working on.4.It is quite interesting to spend the next five years?If you are successful, you will spend at least five years working on the challenge that you are trying to resolve. Ask yourself if the business problem is interesting enough to give it a 90% of the brain of your operation for the next five years.5.What differentiates my business idea?People want something innovative and familiar. If you capture an amazing idea, do your research around potential competitive products or services in order to make sure that what you offer is not already out there. And then consider whether the products or services your company offer additional advantages to users.6.I can afford 6-12 months without making money?It’s not the most exciting or uplifting question you can ask yourself, but it’s the truth. It’s not easy to start a business, and there will be times that you won’t be able to make the month’s rent. Before you setup a business, make sure that you have the necessary resources to cope with needs that may arise before you reach success.Source

Members of the FounderSociety, a network for entrepreneurs, establish the six most important questions that you need to employ a …
aspiring entrepreneur before devote himself entirely to his work.
1.What I’m trying to solve it?
The first thing you need to ask yourself before you start a business is: “What problem I’m trying to solve it?”. Often, entrepreneurs love the idea to build and own their own business, and, of course, have the corresponding economic rewards. However, if you don’t focus on solving a common problem, it is likely to fail.
2.I have the time?
You may have the passion and the appetite to do it, but you have the time? The idea is the easy part; the hard part is to find the time to convert the idea into a successful company. You have time now? You’ll have in the future? Now is the time to ask yourself these questions and move accordingly.
3.Why do it?
What you do and how you do is not as important as why you do it. Why are you trying to build something that wasn’t there before? Why should your business be? Why should we respect that? These are questions that should be of concern to you in whatever you’re working on.
4.It is quite interesting to spend the next five years?
If you are successful, you will spend at least five years working on the challenge that you are trying to resolve. Ask yourself if the business problem is interesting enough to give it a 90% of the brain of your operation for the next five years.
5.What differentiates my business idea?
People want something innovative and familiar. If you capture an amazing idea, do your research around potential competitive products or services in order to make sure that what you offer is not already out there. And then consider whether the products or services your company offer additional advantages to users.
6.I can afford 6-12 months without making money?
It’s not the most exciting or uplifting question you can ask yourself, but it’s the truth. It’s not easy to start a business, and there will be times that you won’t be able to make the month’s rent. Before you setup a business, make sure that you have the necessary resources to cope with needs that may arise before you reach success.
Source

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