6 Questions Successful Entrepreneurs Ask Themselves

Congratulations! You’ve decided to start a business and become an entrepreneur. You’ve made your mind up, which is good. But, now you’ve probably got a million questions. That’s a good thing.

At this stage in the game, it’s all about asking yourself the right questions. Asking yourself which color your business card should be is not a good question.

1. What are my motives?




There’s a great chance you won’t make money, get famous, or accrue significant power. If any of these motives is the primary driver, I’d highly suggest you opt out immediately. Startups require passion and persistence, which flows from purpose. Find your purpose.



2. How comfortable am I with failure?



Startups are hard, and failure is guaranteed. The fear of failure is paralyzing and will lead you to make poor, shortsighted decisions. Even if the startup succeeds, there will be plenty of broken promises, unfulfilled expectations, and disappointment. Can you handle it with determination and grace?



3. Is it already in the market?




If you’re looking to create small pieces of paper that you can stick on your fridge, that solution {Post-Its} is already available. No amount of innovation is likely to disrupt the existing product. If someone is already doing it in the way you’ve conceived it, there are better fish to fry.



4. What’s the opportunity?




Business is about balancing risk and reward. So what’s the upside? If the opportunity is not significant, you either need to make sure your risk is low or abandon ship.




5. What’s my cash requirement?



What resources will you need to purchase to be successful? Whatever you just estimated, triple it. How long will it take to start bringing in significant revenue? Whatever you just said, quadruple it.



6. Where can I turn for mentorship and advice?




There are lots of people who have done some aspect of what you’re trying to achieve. They have the scars and stories to prove it. Learning from their mistakes and getting sound outside counsel will be a critical component to your success. Where are those people, and can you access them?





0 ratings











Comments

Author

Spoon Feeding

Spoon Feeding

No Bio Available


1 followers

Credits

forbes- https://www.forbes.com/sites/brentbeshore/2013/01/15/17-simple-questions-successful-entrepreneurs-ask-before-starting-anything-new/#5a4e3d02782d

Stats

Published
2221 days ago
event
Page Views last 24h
0
av_timer
Total Page Views
339
assessment
Revenue
attach_money0.3299
monetization_on

Advertisement

Related Posts
4 Reasons to not Ignore Back Pain

4 Reasons to not Ignore Back Pain

Finance and Business
7 views
star_border star_border star_border star_border star_border
Aluminum Railings Toronto

Aluminum Railings Toronto

Finance and Business
33 views
star_border star_border star_border star_border star_border
The TOP 5 Reasons why your company should have a website!

The TOP 5 Reasons why your company should have a website!

Finance and Business
61 views
star_border star_border star_border star_border star_border

Advertisement

Like us on FB!

More Posts

Rajesh Khanna II Anand II Zindagi badi Honi chaiye Lambi nahi

Rajesh Khanna II Anand II Zindagi badi Honi chaiye Lambi nahi

Movies and TV
10 views
star_border star_border star_border star_border star_border

Relationship
23 views
star_border star_border star_border star_border star_border
Test your math skills

Test your math skills

General Knowledge
159 views
star_border star_border star_border star_border star_border
Grants For New Boilers, Free Boilers

Grants For New Boilers, Free Boilers

Finance and Business
2 views
star_border star_border star_border star_border star_border
Sonam Kapoor Wedding Picture

Sonam Kapoor Wedding Picture

Celebrity
35 views
star_border star_border star_border star_border star_border
convo with yur ex! :'D

convo with yur ex! :'D

Funny
67 views
star star star star star
Who will Kiss you in 2018 ????

Who will Kiss you in 2018 ????

Pic
120 views
star_border star_border star_border star_border star_border

Jokes
54 views
star star star star star
Best Pictures of Eco Friendly Reusable Shopping Bags

Best Pictures of Eco Friendly Reusable Shopping Bags

Design
24 views
star_border star_border star_border star_border star_border
who is your best friend?

who is your best friend?

Pic
24 views
star_border star_border star_border star_border star_border
When someone asks you do you have a girlfriend!

When someone asks you do you have a girlfriend!

GIF
377 views
star_border star_border star_border star_border star_border
Friendship test

Friendship test

Pic
121 views
star star star star star
Game of Thrones S7 Ep 5 leak

Game of Thrones S7 Ep 5 leak

Movies and TV
61 views
star_border star_border star_border star_border star_border
Aapko Final Exam me kitne precent Marks aayenge ?

Aapko Final Exam me kitne precent Marks aayenge ?

Pic
63 views
star_border star_border star_border star_border star_border
Me During Exams ?

Me During Exams ?

GIF
81 views
star star star star star
Random Post