BUSINESS STARTUP – KEY QUESTIONS YOU MUST ANSWER
Do You Have A Startup Idea?
These are important questions you have to answer to determine if your idea is worth pursuing:
- Will you personally use your product?
- Can you find 10+ people who are willing to pay for it now?
- What do you love to do? How different is it from your idea?
- How painful is the problem you intend to solve?
- Is your target market big enough to create a real business out of it?
- What is your revenue model and how realistic is it?
- How well can the founders execute?
- Can the founders identify what they need to do, beyond the obvious?
- How does the customer address the problem today?
- What are the recent trends that make your solution possible?
- What is the simplest version of this idea?
- How fast can you take the idea to market?
- How soon can you build your prototype?
- What makes your product different?
- How much money is needed to build your first prototype?
- Customers will only buy a simple product. Can you explain your product in one sentence?
- Do you have any advantage over the competitors?
- Are you passionate enough about the idea to dedicate all your time for the next 1-2 years to your business?
- How easily can you get access to 2-3 high profile people who can advise you on how to succeed in that target market?
- Can you convince 1-2 great people to work with you right now?
- How soon can you scale it?
- How will it make the world a better place?
- In what way is it creative, innovative and unique?
- What opportunities and risks do you face?
- What is the image on patents?
- What long-term goals have you set?
- How is the industry developing (market growth)?
- What are the key success factors?
- Why should someone give you money?
- How will your business survive and grow in the next 5 years?
Click the link below to see the Business Plan Template options to help you:
For more information, call or email us today.