My Check List Before Starting A New Small Business

I have a check list of things that I need before following in to a new business, this isn't something that is the same with everyone because each and every person needs his personal check list to be sure why he or she is starting a business.

1. My First Thing On The List Is: You Need To Be In Love With The Business.

If I'm building a club, a business consulting firm or a restaurant I need to be deeply in love with the concept of the business that is on the table in front of me.

With No Passion It's Hard To Wake Up In The Morning Every Day To Run Your Business.

2. If It Sounds Too Good To Be True And Too Easy, Start Looking For Something Else To Do.

When I first started my event planning company I said to myself "this will be easy I can run the whole operation from my phone" well it wasn't easy and after 2 years of losing a lot of potential business I switched my mind set to invest all my efforts to make my business working as optimized as possible.

No Business Is Really Easy, Some Are Harder From Other But None Are Easy.

3. If You Need To Hire People, Do You know Where To Find Them?

At the moment a have a startup offer in front of me I ask myself is this a solo mission? or do I need to hire help, When you need to hire think really hard if you know where to hire because a business can rise or fall on who works at your business.

When You Start A Business The Right Set Of People Can Be Very Crutal.

4.Will The Business Make Money?

The simplest question that has to be asked is; are we going to make money? What is the sales potential? What happens if the market dies? All are very important questions.

Sales Sales Sales...

5. Are there 4 P's You Can Work With?

Place

Promotion

Price

Product

6. Can You Cut Costs In The Near Future?

When forming a new business you should always look 1-2 years forword to look for ways to cut costs.

Cutting Costs Is The Only Good Deffence When A Price War Starts.

7. Will You Ever Want To Sell Your Business For A Profit?

If you will ever want to sell it for a profit then you don't really want your business.

Going In To A Business Is Never The Same As Getting Out Of One.