Great Questions For Starting Any Business

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Great Questions For Starting Any Business by Eric David Smith

Here are 100 great questions to ask yourself before starting any business. Answering these questions can help you get a better sense of what you need to do to create a successful business.

Before you do anything


  • Don't hire anyone just yet
  • Don't buy "Swag"
  • Don't code it first
  • Don't listen to your friends and family only - talk to random strangers as well

The Questions:


1. Business Idea


  • What is your business idea?
  • How did you come up with this idea?
  • What makes your idea unique?
  • Who is your target market?
  • What is the size of your target market?
  • What is the problem you are trying to solve?
  • How does your business solve this problem?
  • What is the value proposition of your business?

2. Business Model


  • What is your business model?
  • How will your business generate revenue?
  • What are the costs associated with your business?
  • What is the profit margin of your business?
  • How will you fund your business?
  • How long will it take for your business to become profitable?
  • What is the growth potential of your business?
  • How will you scale your business?

3. Market Research


  • Have you conducted market research?
  • What are the trends in your industry?
  • Who are your competitors?
  • What are their strengths and weaknesses?
  • What are the barriers to entry in your industry?
  • What are the regulatory requirements in your industry?
  • What is the demand for your product or service?
  • What are the buying habits of your target market?

4. Marketing


  • What is your marketing strategy?
  • How will you reach your target market?
  • What is your budget for marketing?
  • What channels will you use for marketing?
  • How will you measure the success of your marketing efforts?
  • What is your brand identity?
  • What is your messaging strategy?
  • What is your customer acquisition cost?

5. Operations


  • What are the operational requirements of your business?
  • What is the timeline for launching your business?
  • What is the location of your business?
  • What are the staffing requirements of your business?
  • What are the legal requirements of your business?
  • What are the accounting and financial requirements of your business?
  • What are the technology requirements of your business?
  • What is the inventory management process for your business?

6. Sales


  • What is your sales strategy?
  • How will you generate leads?
  • How will you convert leads into customers?
  • What is your sales process?
  • What is your pricing strategy?
  • What is your customer retention strategy?
  • How will you handle customer complaints?
  • How will you measure the success of your sales efforts?

7. Legal


  • What legal structure will you choose for your business?
  • What are the legal requirements for starting a business?
  • What are the permits and licenses required for your business?
  • What are the tax requirements for your business?
  • What are the intellectual property requirements for your business?
  • What are the employment laws you need to follow?
  • What are the liability risks for your business?
  • What contracts do you need for your business?

8. Finance


  • What is your financial plan?
  • What are your startup costs?
  • What are your ongoing costs?
  • What is your revenue forecast?
  • [ ]
  • What is your break-even point?
  • What is your cash flow projection?
  • What is your funding strategy?
  • What is your debt-to-equity ratio?
  • What are your financial projections for the next 3-5 years?
  • How will you manage your finances?
  • What accounting software will you use?
  • What are the tax implications of your business?

9. Team


  • Who will be on your team?
  • What are their roles and responsibilities?
  • What are their qualifications?
  • What is their experience?
  • What are their strengths and weaknesses?
  • How will you recruit and retain your team?
  • What is your company culture?
  • How will you handle conflicts within the team?

10. Personal


  • Why do you want to start a business?
  • What are your personal goals?
  • What are your strengths and weaknesses?
  • What is your risk tolerance?
  • What is your entrepreneurial experience?
  • How will you balance your personal life and business life?
  • What support do you have from family and friends?
  • What is your exit strategy?

Answering these questions can help you gain clarity and confidence in your business idea and create a solid foundation for your business. Good luck with your entrepreneurial journey!

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Eric David Smith
Father / Software Engineer / Musician / Entrepreneur

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