20 Questions Before Starting a business

Ask yourself these 20 questions to make sure you're thinking about the right key business decisions:

Why am I starting a business?

What kind of business do I want?

Who is my ideal customer?

What products or services will my business provide?

Am I prepared to spend the time and money needed to get my business started?

What differentiates my business idea and the products or services I will provide from others in the market?

Where will my business be located?

How many employees will I need?

What types of suppliers do I need?

How much money do I need to get started?

Will I need to get a loan?

How soon will it take before my products or services are available?

How long do I have until I start making a profit?

Who is my competition?

How will I price my product compared to my competition?

How will I set up the legal structure of my business?

What taxes do I need to pay?

What kind of insurance do I need?

How will I manage my business?

How will I advertise my business?