Starting a business can be one of the most satisfying and rewarding accomplishments. However, during your startup phase there will be times that you’ll have challenges. Over the years, I’ve kept a list of the challenges that many business women have shared with me. Here are some of the common ones that I’ve heard:
- My husband doesn’t want me to start a business.
- I want to quit my job now – not later!
- I have to put all of my startup expenses on my credit card.
- I’ve discovered that I can’t work with my kids at home during the day.
- I’ve started the wrong business – I thought it was what I wanted.
- I’m in debt and I’ve just started my business.
- I’m not sure of my target market.
- My business isn’t making money.
- I started my business without knowing what I really wanted.
- I started my business without operational cash.
- Between my full-time job and rushing home to take care of the kids, I’m not having time to work on my business.
Perhaps you have one or more of the above startup challenges in common or you want to make sure that you minimize those type of challenges altogether. To do that it will be important that you know your WHY! In other words, you have to be extremely clear why you are starting a business. For example, while everyone wants to start a business to make money, it can’t be the only reason. You should have a passion, a need to help others or life purpose that is driving you to take charge and be an entrepreneur.
When there is nothing more than money that is driving a person to start a business things can really get tough when money doesn’t come in. A woman in this situation find can find herself overwhelmed, bored, lacking energy and the desire to keep moving on is often no longer there. This is why you’ll need something more to keep you moving forward. When times get tough and they can, it is your WHY that helps you to keep going.
Another essential part of starting a business is to take time to properly plan and research. It’s doesn’t make sense to move forward in launching your business if you have not allowed yourself to go through the discovery phase, which is learning all about your why and what it will take to get the business started.
Below are 7 essential questions to ask yourself prior to business startup.
Note: This is not a comprehensive list of questions,but they will get you on your journey of discovering your why and give you more clarity before you start.
- What’s your personal and business vision?
- Are you starting the right business for you?
- Have you taken your family into consideration?
- Do you know what it will take to make your business successful?
- Do you have the money needed to start your business?
- Do you know the amount of time you have to operate your business?
- Have you prepared your business plan?