6 Basic Questions To Help Clarify Your Business Intentions

Starting up a new business of your own? That's terrific! Owning a business can be a thrilling adventure. It offers a degree of freedom and lifts the cap off of your potential earnings. So if you really want to earn what you're worth - entrepreneurship is definitely the way to go.

But you need to heed this warning, although you've probably heard it several times before. The majority of businesses fail within their infant years - that's the harsh reality. So if you pay any credence to statistics, the odds are against you.

Truth is... if you let those numbers deter you from the dream of starting up a new business, you're probably not ready for the gut-wrenching roller coaster ride of business ownership. That might strike you as being a bit harsh, particularly from someone who is somewhat of an entrepreneurial evangelist. But you need to know that that it's not all sunshine, lollipops and roses. Stuff happens... and sometimes at the most inopportune times.

Start with a plan and go from there. Don't keep your vision in your head or you'll continually muddy the picture and get nowhere in the process. The easiest way to get started is by asking and answering 5 basic questions.

Those questions are:

1. What Type of Business Do You Want To Start?

2. Why Are You Starting Up A New Business In This ________ (Industry, Location, and Niche Market)?

3. Who Will Buy Your Products or Services?

4. Where Are You Planning To Operate Your Business?

5. When Is Your Proposed Opening Day?

6. How Will You Thrive From Day One and Continue To Grow Your Enterprise?

The secret is to summarize your proposed business. Your answers to these 6 questions will set you on the right path for starting up a business of any kind to serve any niche.

It's one thing to have a vast reservoir of business start-up ideas in your head. But writing it down on paper gives you clarity and helps make sense of the whole thing. The above questions are a starting point and each could easily be expanded upon. What you want to do is refine and define your intentions in basic terms. You need to know who your market is... what you're planning to sell and why customers will be eager to do business with you.

Starting up a new business is often a lifestyle changer. But you want to make sure that the changes you experience are all positive. So answer these basic questions and then re-evaluate your idea. You'll know in a matter of minutes if it's worth taking to the next level.

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