Eight Questions To Ask

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Eight Questions To Ask Before You Start A Business:

Eight Questions To Ask Before You Start A Business

What Do You Do?:

What Do You Do? Define what service the business provides. Many entrepreneurs make the mistake of trying to be all things to all people. Try to focus.

Who Do You Do It For?:

Who Do You Do It For? Create a mental image of your typical customer. Make a note of their income levels, and particularly their “itch” i.e. that problem they really need solving, and will gladly pay money for you to solve.

What Makes You Different?:

What Makes You Different? There is a tendency to model yourself on others. To copy existing models. Try to avoid doing so . Re-invent.

Do You Know What Cashflow Is?:

Do You Know What Cashflow Is? This point is so important, it really should be number one. Running out of cash stops you dead and makes you utterly vulnerable . There is no fooling cashflow. The score of any business is the bank account balance.

What Employees Do You Need?:

What Employees Do You Need ? Consider outsourcing all non-core tasks. Its save your time.

How Will You Manage Customers?:

How Will You Manage Customers? How will you manage your customer relationships ? How will you structure your activities to ensure repeat business ? Do you have a process whereby you can find out customers wants and needs?

What Are Your Goals?:

What Are Your Goals ? Set company goals & Set personal goals. How much do you need to earn, and in what time frame ? How will you exit your business? Who will you sell to?

Do You Really Want To Run Your Own Business?:

Do You Really Want To Run Your Own Business? Ask yourself why you want to be in business for yourself ? Taking one hour to consider this question can save you a lot of time, money and grief if you jump in unprepared.

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