5 Personal Questions to Ask Yourself Before Starting a Business to Save Time, Money & Unnecessary Pa
Entrepreneurship is not for the faint at heart.
If you want to save time, money, and unnecessary pain from starting a business, do the research to find out whether you have the capacity to start and sustain yourself in business VUCA (Volatile, Uncertain, Complex, Ambiguous) emerging markets.
Here are 5 personal questions to ask yourself before you take the plunge into the world of entrepreneurship:
1.Why do I want to start a business?
Answering this question will help you understand your motivation for starting a business. Knowing your why will give you a sense of direction in what and how you do what you do in business. It will also help you see whether you have a compelling enough reason to keep you in business when the going gets tough. For instance, a social entrepreneur that builds-in social impact into their business model will most likely feel fulfilment and a sense of duty to make a difference in other's lives through their business.
2. Can my aspirations be fulfilled any other way?
If, for instance, you want to start a business to make more money, build a legacy, or even have peer respect, you may find that you can accomplish those aspirations in other ways. Starting a business may have been the first thought that came to mind but may not necessarily be one you feel a conviction over. If this is the case, choose another route to fulfilling your aspirations. If, after asking yourself this question, you find starting a business as the most appealing platform to you, do it.
3. What do I want and like to do?
Some start businesses because they enjoy creating and delivering the products and services from that business as solutions to others' problems. Sometimes people start businesses because others are doing the same thing or that business has been recommended to them.
Ask yourself what you want and like to do. See whether you are going to engage your passion in your business or if it will be doing something you are not so keen about.
While doing what you like does not necessarily equate to business success, and doing something you are not so keen about, to business failure, going into business with clarity on your personal preferences helps you create a support system around your strengths and weaknesses so that the business can succeed in spite of you.
4. What resources does the business need and how much can I generate to invest in it?
Your business will demand that you invest in it. Research what your business will need at infancy and evaluate whether you can generate the resources (time, energy, capital, labor, access to networks and markets, etcetera) to start your business in the short to medium term, and to grow it in the long term.
5. What adjustments do I need to make to give my business the investment it deserves?
Like any other life transition, starting a business will require you to shift priorities to accommodate it. This question helps you audit your current activities to make personal, professional, family, financial, and maybe even location adjustments to give your business the investment in deserves.
The African Entrepreneur's StartUp Checklist
The degree to which you are aware of your personal preferences and willingness to make adjustments and investments for your business is the degree to which you will set your business for success.
The African Entrepreneur's StartUp Checklist helps aspiring emerging market business leaders to count the cost and decide whether they are willing to pay it to start a business. Get your copy to save time, money, and unnecessary pain most entrepreneurs go through when they start in business.
"A prolific serial entrepreneur, I wish someone had taken me under their wing a decade ago to guide me through the step-by-step thought process and planning required for a successful launch, steady growth, and strong exit of my numerous business ventures.
In The African StartUp Entrepreneur’s Checklist, you receive the benefit of my hindsight by considering beforehand, critical questions that help you innovate offerings, anticipate blind spots, and eliminate roadblocks on your journey to entrepreneurial success.
I assure you that by the time you have reflected on all the questions, you will have a better appreciation of the real cost of African startup entrepreneurship and be in a position to build, measure and adjust to successfully launch as an African StartUp Entrepreneur." - Modesta Mahiga
Order yours on Amazon today.