Questions we should ask ourselves before setting up a business
According to my way of being and my character, do I serve as an entrepreneur?
Unfortunately, not everyone has the skills and abilities needed to start a business.
To be organized, to have clear objectives and ideas, to have a desire, commitment, enthusiasm, not to “bend” in the face of adversity, to achieve everything proposed without throwing in the towel, etc., are some of the aptitudes that every entrepreneur should possess.
Surely we have heard that undertaking is not a path of roses, but rather of sharp stones, and that for every action that goes as expected, three go wrong. That is why it is essential not to give up on the first problem we face because then we will surely get nowhere.
If you are a constant person, with clear ideas and a lot of willpower, you certainly have a good chance of becoming a successful entrepreneur.
Am I ready to be my own boss?
Perhaps we all believe that the best thing that could happen to us is to be our own boss so that we don’t have to be accountable to anyone, but the people who are their own bosses will surely tell you that it’s not all as nice as it sounds.
Being your own boss when you’re trying to start a business means navigating rough waters all by yourself unless you have a partner. However, as we are the founders of the company, we must always have the last word and our opinion will count the most. Therefore, even if we have support, failures, and successes will always fall on us.
Are we prepared to take 100% ownership of everything that happens within our company, are we prepared to make decisions that may be detrimental to others, and do we have the skills to manage and direct a team? These are some of the questions we should ask ourselves to know if we are really ready to have our own business.
Is my entrepreneurial idea viable?
Sometimes, the difficult task is not to have a business idea, but to make it viable so that it can be carried out.
There is no point in having a revolutionary idea that we believe can change the world if the tools and resources to carry it out do not exist. It is very easy to invent thanks to our imagination and creativity, but very difficult to make it a reality.
It’s time to think, what tools, techniques, technology, etc., I need to carry out my project or idea. How many people I need, how much money I should invest, how much I can sell it for, who will buy it, what needs it will cover. You can see in this post, the keys to take into account before launching a project.
Do I have enough experience in the sector?
It is advisable to create a business within a sector that we dominate, in this way, we will know what we can contribute as a differentiating element from other companies in it.
The business world is full of “sharks” and either you know how to get around in this world, what doors to knock on, who to rub shoulders with and how to stand out, or you’re sure to die of success before the first year of the company’s existence.
It is for this reason that if we try to enter a sector in which we already have experience, either because we have worked in it before or because we are interested and have previous knowledge that we have acquired on our own, it will be much easier for us to succeed.
Does the product or service I have created meet the needs of the users or does it generate them?
When launching a product or service on the market, we must be very clear about the purpose for which it has been created. In other words, the product has been created with the purpose of covering specific user needs and no other service or product generates them, or what is wanted is to awaken a need that even the users themselves did not know they had.
It is important that before launching our idea or project in the market we are clear that it is really interesting for potential customers and that therefore, they will consume it. If our product or service does not contribute anything; neither novelty, interest, originality, etc., it is certainly not the ideal product to launch on the market.
Which target customer do I want to target?
This question is closely related to the previous one since once we know what kind of needs our product or service can cover, it is time to think about what kind of target will be addressed.
Knowing the age, geographic location, interests, consumer habits, among other factors, about consumers who have companies in the same sector as us, can help us build our own Buyer Person, so we know where to focus our marketing strategies and campaigns.
Segmentation is undoubtedly very important, as we will be reaching those consumers who are most at risk.