My 3 favorite questions to ask before starting a business

Image for post
Image for post

Three questions, really? Is that all the questions to ask before starting a business. Well, no. There are a ton of questions to ask before starting a business. However, out of all of those questions there are three that I like people to start with. I have used these same three questions personally. I also use these questions when I am coaching an entrepreneur or when people are looking to join my team.

The reason I like these questions the best, out of all the possible questions a person should consider, is that they help get to the root of your expectations about starting a business. Because the reality is that entrepreneurship isn’t for everyone. It can be brutal. More often than not. When you ask yourself these questions and you answer them directly and honestly you help remove any assumptions you are making. Particularly about the level of success you are expecting and how much work you are willing to put into the business.

The first of two questions to ask before starting a business focus on the amount of effort you are willing to put in.

Question number one is — How many hours per week are you willing and able to put into your business?

Question number two is — How many months are you willing to work on your business before you expect to make any money?

Our final question is — how much money do you expect to make?

P.S. Because I enjoy working with young entrepreneurs, and new entrepreneurs, I’ve decided to provide a free mentorship program where I work with one startup every quarter of the year.

I’m a former C-level banking exec. and 3x startup founder leading a corporate innovation/product team and have helped companies raise over $500M in funding.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store