Start Up

1. For your business to be a reality and to succeed, you must be committed. Commitment means that you are willing to put your business before almost everything else. Do you want to be in business for a long time?

2. Can you spend most of your time and efforts on your business?

3. Your business is more likely to succeed if you are very motivated to try your business idea, create wealth and make your money work for you. Do you know clearly why you want to have your own business?

4. Do you the kind of person to see the glass as half empty instead of half full?

5. Do you always give the best of yourself in everything you do?

6. Is everything possible if you believe you could do it?

7. There is no absolutely safe business idea. You always run the risk of failure. Are you prepared to take risks?

8. Are you willing to risk your money to invest in your business?

9. You are in charge of your business, which means that you have to make decisions that may lead to either success or failure. Important decisions cannot be postponed or passed on to someone else. Can you make difficult decisions by yourself?

10. Do you have a hard time functioning in uncertain or ambiguous situations?

11. Entrepreneurs are subject to a lot of stress. Stress may be the result of either difficult decisions that must be made, dealing with stakeholders in the business or working long hours. Are you excited about your business prospects?

12. Do you derive a great deal of enjoyment from your work?

13. When faced with difficulties, Do you look for alternative solutions?

14. Running your own business requires that you are able to solve problems. Do you have the ability to solve the root cause of problems in creative ways?

15. One feature that differentiates an entrepreneur from an employee is the ability to develop and achieve goals. You should be able to envision where your business is headed and to see the bigger picture, rather than just focusing on minor details. Have you drawn a vision and set a goal for your business?

16. Running your business will take a lot of time and effort. It is important to have adequate support from family, friends and other business people. Do you have a social network of people and organizations that will support the realization of your dream?

17. Access to financial resources to start your business is important. Have you set money aside to get your business started?

18. If you need additional funds, do you have family or friends who might be willing and able to lend you money, to use their assets to guarantee your loan with a financial institution?

19. Do you have technical skills that are necessary for your business?

20. Do you have skills in marketing, costing, record keeping, people motivation, etc.?

21. Do you have a detailed knowledge of the specific type of business that you want to start?

22. Can you get what you want from a negotiation in a way that both parties can benefit?

23. Do you know how to sustain the natural capital or resources on which your business depends?

24. Do you have a good relationship with the community?

Have you made a decision regarding the products and/or services you plan to offer?

Do you know who your customers will be?

Have you gotten feedback from any potential clients regarding the products or services you're offering?

Do you know who your competitors will be?

Do you know what prices your competitors charge?

Have you decided what prices you will charge?

Have you found a good location for your business?

Have you chosen the distribution method you'll employ?

Have you decided what kind of promotions you are going to do?

Do you know how much your promotions will cost?

Have you decided what staff you will need and how much staff will cost?

Have you determined a salary for yourself that will allow you to cover the essential expenses for your household?

Have you decided which legal form your business will take?

Do you know all the legal requirements for your business?

Have you decided what insurance your business will need?

Do you know how much the insurance will cost?

Have you made a Sales Plan?

Do your Sales Plan and Cost Plan show a profit for the first year?

Have you made a Cash Flow Plan?

Do your financial projections indicate that you won't experience a cash shortage in the first six months?

Have you calculated how much start-up capital you need to start your business?

Have you raised the money for all your required start-up capital?

Have you looked into the help that associations, financial institutions, governmental organizations, and company development service providers can offer?

Have you assessed the positive or negative impact your business has on your community and the natural environment?