Perhaps one of the greatest entrepreneur tips is that anyone starting a new business, a new endeavor, a partnership, or even just a change of profession, should be asking themselves pertinent questions to help to provide clarity on the future.
Below are 10 questions entrepreneurs should ask themselves before jumping in:
- What’s your why? Why is it that you have decided to dedicate your time and effort into doing something? If you have enough conviction in your WHY, then you will have the ability to figure out HOW you will get there.
- Are you prepared to fail? The bottom line is that the majority of businesses fail. If it were to happen, how would you handle it? Even great entrepreneurs had failed endeavors. The most important thing is to learn from it and become better because of it.
- What problem are you trying to solve? Successful businesses all fill a need or solve a problem. Be clear on what problem or pain point you are trying to address.
- Who will be your mentor? Having a mentor can be extremely beneficial, to put it lightly. Even the brightest stars and the most brilliant minds look to others for direction and inspiration.
- What are your strengths? Know what it is that you are proficient at, and use it to your advantage. This will help to point you in the right direction. In addition, know your weaknesses. Areas where you might not have as much knowledge can be delegated or hired out.
- What’s the most important thing you can get done today? Although I am big on planning, there is some truth to the saying that tomorrow never comes. Many people put off things today and say they will get to it tomorrow. Taking action TODAY is the only way to ensure things get done.
- What sacrifices are you willing to make? Starting a new endeavor is filled with the unknown. However, make sure to be clear on what is important in your life, and make sure to keep your priorities in the proper perspective.
- What is your vision? Define what success looks like to you. Imagine you are able to accomplish anything you set out to do, what would that look like?
- What is your end game? Are you trying to build a family business that will be passed on from generation to generation? Or are you looking to simply grind it out to support your current lifestyle? Figure out where you’d like to be in 10, 20 , 30 years.
- Are you organized enough to handle everything? There is so much to think about when you are an entrepreneur starting a business. Disorganization is a huge time waster and productivity killer. Get super organized, and you will dramatically increase your chances of success.
Susan Sly is a best selling author, work life balance expert, speaker and entrepreneur. She has appeared on CNN, CNBC, Fox, Lifetime Television and the CBN. Susan is the mother of five children and resides in Scottsdale, Arizona.