A reporter recently asked what entrepreneurs should ask themselves before beginning a start-up. I suggested these five questions:
- Is this business’s products or services responding to a real market need?
- Will customers buy enough of them to make a sustainable profit?
- Do they connect with my personal strengths and passions.
- Will I have enough fun doing it that it will make up for the long hours, unpredictable income and stress?
- Can I grow it to the point I can sell it, franchise it or leave it to my kids?
If they don’t get five ‘yes’ answers, then the smart money is on rethinking the start- up idea and definitely not quitting their day jobs.