Friday, July 25, 2014

The Five Questions to Ask Before Starting Your Business

What are the five most important questions an inventor/entrepreneur must ask and answer before deciding to start a new business? Here are my five:

1.       Does any other person or entity own this idea, invention, or innovation?

2.       Is there a significant market for products to be made or services to be provided?

3.       Is there a business model that makes sense; that is, can the business be profitable?

4.       How much money (e.g., investment) will I need?

5.       Can I write a persuasive business plan?

In my following blogs I will address each question. Please feel free to comment.

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