10 Questions to Ask Before You Start a Business

Business

So you want to start a business?

As a business coach, I work with many many women who are either just starting or have already started their businesses. Every entrepreneur has their own journey and story of how and why they got started as well as their own story to success. 

But a question I get from the outside world sometimes is…should every entrepreneur be an entrepreneur? Are there people better suited for business than others? Are there certain types of businesses that are better?

And honestly, yes there are people who shouldn’t be entrepreneurs, but not because they aren’t smart enough etc. It’s because the world of running a business may not line up with their goals and values in the long run.

So how do you know if this entrepreneur road is for you? Here are 10 questions you need to ask yourself. There are no right or wrong answers, these questions are made to help YOU reflect and determine if you think this role is in alignment with your life goals. 

  1. Why do you want to be an entrepreneur? Is it about money or about the problem you are solving, or the freedom in your life. Get clear on that. 
  2. Do you have stakeholders in your life? Do you have kids, a spouse etc. who rely on you? How can you get organized to take this risk while ensuring their success as well?
  3. What problem are you solving in your business? How would you be unique?
  4. Could you achieve everything you wanted within another company at a certain level? In other words, may an executive position elsewhere get you the same results? If not, why not?
  5. Are you prepared to invest a lot of time, energy and money into yourself and your business? How far are you willing to go?
  6. What does your support system look like? Do you have people or mentors you can turn to for support in the tough times and the good times?
  7. When you picture the success of this business, what do you envision for yourself and the people around you? Is it about fame, vanity, validation, money or is there a greater fulfilment in your vision
  8. Picture your dream life and your dream success of your business…Does the work/hours/needs of your scaling business align with the goals of your personal life?
  9. If you won 70 million dollars, would you still want to start this business?
  10. If money were not an issue in your life right now and you knew you couldn’t fail, what would you do?

Journal these answers. Go deep. Get real with yourself, your desires, your thoughts. It’s ok if you realize after this that a business isn’t for you. You can still have a creative, fulfilling, free, abundant life working for someone else. And it’s also great if this fuels your desire for a business more. If it reminds you of your passion and drive and helps get you clear on what the investment will look like. 

As always, I am here to help you brainstorm, work through your mindset and help strategize your business. You can book a strategy call here. Or book a discovery call for my 1:1 program!

with love,

Danielle Barich

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