I attended a government run workshop on Women-Owned Businesses (who will remain nameless) and was horrified when the facilitator jumped into getting financing for your business. I raised my hand and asked, shouldn't we first dig into whether or not we should start a business? She dodged the question by assuming we were all ready to get going and take out a loan.
I've created the below questions not to scare you out of business, but to think thoughtfully about the risk and what's really needed to make your business successful. These are not targeted to any one industry and may seem general, but their purpose is to start a deeper conversation. I'd love to hear your answers and feedback in the comment section.
Why are you creating your business?
On a scale of 1 – 5, what is your risk threshold?
How much money do you have available in savings?
Realistically, how long can you live off of that money?
How do you handle stress or bad news?
When do you anticipate being profitable?
How many hours a day/week/month are you willing to put in to make your organization a success?
Who can you affiliate with/collaborate with/sell to in your immediate circle?
Who do you need to get in front of to make your brand known?
Why haven’t you called, emailed, called again?
What are you avoiding to becoming successful?
On a scale of 1 – 5, how ready are you to be a success?