Thinking about Starting a Business?
April 19, 2010 by admin · Leave a Comment
Questions to ask yourself…
1. Explain how the business will provide sufficient money to meet your minimum needs.
2. How long do you intend to work in the business?
3. How much of your time will the business demand?
4. What type of people do you work best with?
5. What kind of people will you be working with in the proposed business?
6. Is status and prestige important to you?
7. How much energy is required to get the venture launched and developed?
8. Explain why your stage in life is an asset or liability in the business.
9. How many years of productivity are needed to build the business?
10. Explain what will happen if you fail.
11. What does your significant others think about the venture?
12. Have you the educational background to run a business?
13. What are you bringing to the venture? (Do you have the expertise, money, and experience or do you need outside talent for your management team?)
14. In the end, what do you want from the business as an exit?
15. How much debt will the business need?
16. Explain why you will be an effective business owner.
17. Can you do this business on your own or will others be needed?
18. Will starting and running a business make you a better person?
Is your Business an Asset?
April 5, 2010 by admin · Leave a Comment
If you were to think of your business as an asset, it would be a model with the following traits:
- It can be operated by others
- It maintains impeccable order
- It has documented processes and procedures
- It provides uniform and predictable service to clients
- It always looks the same to outsiders
- It provides a consistent return to the owner