8 Questions for Budding Entrepreneurs

By: Wazobia Times Staff

entrepreneurMost people dream of being their own boss and calling the shots, but do they have what it takes?

Here are 8 questions you should ask yourself before you jump into the world of entrepreneurship.

  1. Do you have a plan?

Always, always start with a plan. If you don’t know where you’re going you will never get there. Take the time to write out your business plan; that way you have a clear view of what your business is all about, as well as if you are on track.

  1. Is this a hustle or a business?

A lot of people go into business, but they treat their business like it is something they are just doing to get by. Take the time to register your company. Don’t spend the money that comes in like it is yours to do whatever; open a business account. Please don’t short change yourself by turning your business idea into a hustle. If you can see yourself doing this for the long haul, then act accordingly.

  1. Will you enjoy doing this?

Just like anything else you don’t like doing, you won’t do it very long. It is the same thing with starting a business; if you are not enjoying yourself, you might as well stop now. Some people have this romantic notion that they are going to start a business today and quite their job tomorrow. For some it might happen that way, but for most it takes time. Most times it is the joy of doing what you’re doing that makes you keep going.

  1. Do you manage money wisely?

Getting back to my point in #2, if you spend money like water, you should NOT go into business for yourself. On the other hand, if you can save and look to what you need to do next then entrepreneurship maybe for you. One day you may get a big check from a client, then you may not get another client for two months. Being able to budget yourself and control the flow of cash will be the make or break moment for your business.

  1. Are you customer focused?

That old adage that “the customer is always right” should be in the front of your mind. Your job is to please your customer, period. A happy customer will refer business to you the same way an upset client will ruin your business.

  1. Are you comfortable networking?

To some networking is a bad word, but it is a necessary evil. If this is something you are not comfortable with start off slow; the more you do it the easier it will become. You never know who will connect you with your next client.

  1. Can you juggle technology?

It’s 2016 and technology is king. If you can’t juggle a Google Calendar or figure out that your files are in the Cloud, hire somebody. The old way of pen and paper is obsolete; keeping up with the best technology for your business is essential.

  1. How much time do you have?

Starting your own business is time consuming. Your business will take over every aspect of your life, if you let it. Decide how much time you are going to dedicate to start up, then decide which days you are going to work for your business. No matter how much you love what you do, you will start to hate it if you don’t take a day off to relax.

If you really think about these question and answer them truthfully, you will be well on your way to making it big in the business world.

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