What is the number one question to ask yourself when you are thinking about opening a business?

[Blue house]

When starting a business, we all know the real and main reason is to make maximum profits. A business without good profit is bad for the owner, so when I want to start a real business of my own, my first question will be about risk management, if I lose will I be able to bear the loss with pains. So that will be my number one question.

 

[Mave24]

The number one question that I ask myself if I'm thinking about opening a business is if I'm passionate enough to actually take good care of it or not through success or failure. I think every business works better if there's passion being put into it and will be more likely to opushed through difficult times of the business.

 

[Quert]

First I ask myself what are the products or services do people mostly needed these days , in that way I can think of a list of the essential goods or must have products a person should have. It will make sure that a product you're planning to produce would take a big hit on the bucketlist of most people.

 

[BrolySSJ]

Before I will open my business. I will ask myself different questions that I must provide answers to. But the number one question will be which problems am I solving with my business? I already want to open a buinsess that will solve the societal problems.

Figuring out which problem you are solving through your business is very good in terms of a marketing strategy and also in developing a good customer page within your region. Many people have a set idea on what they want to do, and they proceed with the business as they have planned out in their head without considering what is actually needed by the community. In order to meet a societal problem you are inevitably creating a huge market for your product. This is a great first question to be asking yourself.

 

[Quert]

I would take into consideration the location where I am placing my business such as if I decide to put it in the crowded place then I guess I would build a water station where it is not hidden to the people, it should be in a wide area soo it is very noticeable to those possible customers. In that way, my business could be very approachable.

 

[WhiteHouse]

Is there a (real) need for your item? You will see that I didn't ask "Do individuals need your item?" It is regularly the situation that a great many people don't understand what they need until they have it. Likewise, the inquiry isn't whether individuals deliberately remember they need something, yet whether there is a need for the most part, for example is there some issue that should be settled.)

 

[BrolySSJ]

I would take into consideration the location where I am placing my business such as if I decide to put it in the crowded place then I guess I would build a water station where it is not hidden to the people, it should be in a wide area soo it is very noticeable to those possible customers. In that way, my business could be very approachable.

The location of the business that you have is very important because it will depend on the accessibility to its customer base. However, I do not feel that you should base the type of business that you are looking to develop on the location that you have available to you. Instead, it should be the other way around. You should be having a business idea in your mind and then from there you choose a specific location that meets the requirements of the business that you want to open up.

 

[Kinglegend01]

I think the number one question you have to ask yourself when opening a new business is how passionate you are for this business? Are you ready to dedicate along time of hardwork and patience on this business? How knowledgeable are you on these business matter? If your answer to all this questions is yes and you have valid and reasonable reasons to back them up then you are good to go.

 

[Shahzad Ahmad]

First thing that I asked myself is to pay fully intentions and time. Second one is budget. Because everyone know it is very difficult to start new business when he has not any experience about it. So you should fully worked on it initially because you will face many problems at starting.

 

[Oliver 20]

For what reason would I like to begin a business?

This may appear glaringly evident, yet some of the time we need to begin a business without contemplating the why. What started your business thought and is it something you are amazingly enthusiastic about doing?

 

[Alexandoy]

In my experience the first question that came to my mind is the capital. A business is always lacking in capital, that was my mentality because in my position money is not that easy to come by. If I could have the capital then I could have opened several businesses already because my mind was always thinking about business when I was younger. My elder brother and younger sisters are luckier because they made the start up with no problem on capitalization.

 

[Mika]

Here are some questions that you will have to ask yourself.
can I afford to lose this investment?
Do I have enough capital for the business?
Do I have the necessary skills and knowledge to start and run this business?
Have I done proper market research?
have I built the best team for my business?

 

[Aniwhyte]

There a lot of questions to ask yourself before eventually opening a business, one of this question is, is this business profitable, how much would I be earning from it in a month, would the profit be able to cover my rent, electricity bill, and other necessary expenses. Another question you need to ask yourself is about the location of the business.

 

[AQOJ.Biz]

"Will it be sustainable?" this is the number one question that I should always answer whenever I am going to build a business. Having a sustainable, meaning supplies are ok, sales are ok, everything is ok, then success will definitely follow.

 

[Sarfraz Ali123]

Everyone Should Ask own self Before Starting A Business
Why do I want to start a business?
Can this business idea make me money now and in the future?
Who is my target audience for my business?
Who are my competitors?
What is your USP?
How will I market my business?
How will I price my products?
Do I have the funds to start this business?

 

[Usama Iqbal]

First of all I asked is what is my interest and passion to do this business . Second thing how to know about this business that I'm going to start. What I'm able to do this business and how will make this successful. If I'm fail in this business how i can backup my business. I also think about the products that are seeling in the market . After all calculations I want to start a business.

 

[Thosynho]

At some point or the other we have all had the thought to open a business based on what we think will be profitable within our region. And at that point that we talked about developing a business they were serious questions that crossed our mind. Some might ask themselves about the profit that they are able to achieve from their business, whilst others will ask themselves about what business would be the best for the area that they are in. These questions of course will continue to vary depending on the person and what their desired outcome of the business is. In my opinion I believe that these questions are goal-oriented.

However, I think that the first thing that we should ask ourselves when opening up a new business is how committed am I to this venture that I am going into? To a large extent our commitment to a certain venture is what determines its success or failure. Therefore, if we are able to answer this first question there may be a lot more potential for us in developing a business even if it does not go along the path which we initially planned.

What were your first questions to yourself when you consider the opening of the business?

In my opinion, the number question to ask yourself when opening a business is, what is the problem this my business is set out to solve? Every business should solve certain problem where the business is to be situated.

 

[Nma]

most times when I see most of my friends starting up their businesses and cashing out from it.... I'm tempted to follow suit... But I sit down to ask myself some relevant questions such as why I'm starting up the business.... Is it because my friends are into it? or Is it because I'm passionate about it and I want to add value to people's lives? These questions has helped me retrace my steps most times and prevented me from delving into wrong businesses

 

[Kiwi]

The first thing l asked is what is my passion. I think the number one question you should ask yourself, is if you have enough capital and are you ready to take the risk in that particular business.
Are you ready to accept the lose if the business is not giving you enough profitsThen later on you can ask yourself on how to innovate to improve your business..

 

[BrolySSJ]

In my opinion, the number question to ask yourself when opening a business is, what is the problem this my business is set out to solve? Every business should solve certain problem where the business is to be situated.

Yes all businesses are in response to a want or a need within that Society. Basing a business based on the need that is in that Society is a very good idea because you already have a market base for that product at the start of your business venture and sometimes this could make the marketing and advertising portion of your business campaign a lot easier.