Some Questions to Ask Yourself Before Starting a Business

Just came across a great article by Melanie Lindner at Forbes Magazine that discusses the realities of starting a business. Moreover, it addresses some of the questions entrepreneurs must ask themselves before funding a new business venture. The following is an excerpt:

“The first question you should ask: Do you have a compelling value proposition? This point is forever worth repeating: Great ideas are only great business ideas if you can convince people to pay for your product or service at a price above what it costs you to deliver it. Just because you think the world needs new canine cologne doesn't mean anyone else agrees--or if they do, that they would be willing to pay enough to cover your electric bill.”

I would like to start a business at some point in my life, so I find articles like this very valuable. It seems there is no such thing as “too much advice” when starting a business—although simply “starting” is usually the hang-up.

Click here for the full article