Questions To Ask When Starting a Business

If you have spent your whole life working for others, serving others, and caring for others and now are at a point in life where you can ask for the first time, “What do I really want to do?” the choices ahead can be overwhelming. Maybe you are contemplating going back into the workforce, or maybe you are thinking now is the time to finally follow your dreams.

If you find that your passion to follow your own unique path is stronger than jumping back on to a career path, you may be looking for ways to bring your dreams to fruition. If starting your own business is in your near future, there are several things to consider.

More resources exist today for women starting their own businesses than ever before. There are grants and funding, small business loans, co-working spaces, small business workshops and mentors. All of these can be amazing support and tools for women launching a new idea. But is it enough? No doubt it takes a lot of hard work, long days, networking, persistence and patience to get a new business off the ground, but it also helps if you know your place in the market and what you are offering. Here are three questions to ask when starting a business of your own.

Am I helping to fill a void in the market?

Consumers look for a solution to their problem before deciding to make a purchase. If you are planning to offer a product or service, one of the most important things you can ask yourself is, “Does this help solve a problem for my customer?” Chances are, there is a solution already in the marketplace to most problems that consumers are looking for an answer to. However, if you are offering a new, innovative or unique solution to their problem, then you are truly onto something good.

Am I able to carry this to completion?

In order to start a new business it helps to believe in your concept 100% and be fully committed to seeing it through to completion. You may encounter naysayers along the way and if you aren’t fully convinced yourself, any little obstruction or objection along the way can shoot your dreams down instantly. Decide starting out that you are fully committed and will do whatever it takes to make the idea come to life or bring your product to the market.

Do I have the resources to do this or can I obtain them?

A plan without the resources to carry it out is no good, so if you don’t know the “how”, now is a good time to start taking a look. What do you have available right now to help you get started? What can you do without? If it is something you absolutely need and don’t have, how will you seek out resources to get it? A lean startup is possible if you give some thought to what’s needed and what isn’t.

If you have faced, head on, these questions to ask when starting a business of your own, and have been honest with yourself in your answers then congratulations! Take the next step in investigating your business idea further. Talk to your family and those that can offer you support in your new endeavor along the way. Find local resources in your community that support women business startups and network with other women doing the same.

Whether you have decided to follow a career path or follow the path of entrepreneurship, Opting Back In’s upcoming workshops and events will support you along the way. Join our community of women opting back into the workforce and learn from others that have walked the path that you are on too.