Starting A Business

8 Questions to Answer Before You Start Your Own Business

Remarkably informative article to read before you start any online business.

Starting a business is exciting; ideas are boundless and possibilities are limitless. That optimism and energy is needed to roll up your sleeves and get to work on making your dream become a reality. But before you start tapping your savings account or 401k to fund your new venture, be sure you can answer these 8 questions without hesitation:

1. What problem is your business solving?

We are living in an age when it is very easy to start a business, which is great! It also means the marketplace is noisy. So, how will you stand above the noise? You must get super clear on the problem you’re solving and why your business is the best solution. This is called your unique value proposition. Note: the problem you’re solving also has to be something customers are willing to pay for.

2. How will you make money?

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3. Who is your customer?

4. How big is your market?

5. How will you get the word out about your business?

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6. How much money will you need to get started?

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7. What are your strengths and weaknesses?

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8. How much money are you willing to invest?                                                                           

Read the complete article on the original source.  [via fox61]