Questions to Ask Before Starting a Business - Ardmore Score

It’s always easier to ask questions before the game begins than in the heat of the game. Here are five questions to ask yourself before starting a small business.

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Ardmore Oklahoma (PRWEB) January 23, 2014

Questions to Ask Before Starting a Business

When launching a small business, it’s important to spend some time doing your homework before you start. This can save you a fortune in time and money.

1) Am I offering what people want to buy, or just what I want to sell?

You may have an idea for a product, but what if no one wants to buy it? Do your homework, identify a need, and fill it. You may accomplish this with a market study.

2) Do I have a plan to market my business?

You can have the best product or service in the world, but if no one knows you exist, you’ve got a problem. Make sure you’ve got a solid marketing plan for your business, and remember to identify and focus on your target audience. You don’t have to tell the whole world you exist, but you do need to make sure that the right people know.

3) Do I have a series of increasing goals?

One of the quickest ways to get lost is to set out with no plan or map. Make sure you have a vision for your business, that includes sets of increasing goals. “Increasing” is the key word here. If all of your goals are high and lofty, you’ll probably grow discouraged. Setting the bar high is perfectly alright, but make sure you have a series of smaller, more obtainable, intermediate goals.

4) Do I have a plan to measure my progress?

Just because there’s money coming in and you’re in the black doesn’t mean you’re making progress. Make sure to develop a plan to measure the progress of your business, and seek the advice of a SCORE mentor to develop a plan.

5) Do I have a plan to become a better leader?

So you’ve followed these steps, and your business is growing? Great! Just don’t forget, it can always be better. Don’t be satisfied with good; chase after best. Make sure you have a plan to intentionally develop yourself into a better leader, who in turn builds a better business. Take a class, contact a SCORE mentor, read some books, hit up the latest blogs, network with other business owners ... you get the idea.

AUTHOR BIO

The mission of SCORE is to help establish and make small businesses grow. We are a local chapter of a national non-profit organization, dedicated to providing small business owners with the help they need to get off the ground, grow, and achieve their goals. We have been doing this for nearly 50 years, through education and mentorship programs. Thanks to our network of over 11,000 volunteers nationwide, and the support of the U.S. Small Businesses Administration (SBA), we are able to provide free and confidential services. Contact SCORE at 580.223.7765 for an appointment.


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