Questions to Ask Before Starting a New Business
Many Americans are evaluating their lives and how they make their livings. Driven by factors such as safety, job security, life purpose, future goals, and work-life balance, the COVID-19 pandemic has led a lot more people to question whether now is the right time to start their own business.
Do you dream of creating your own product line? Setting your own hours? Being your own boss? Starting your own business can really help you take control of your life and work, take charge, add flexibility, learn new experiences, connect better with peers, and broaden yourself as a person.
Business owners are not special super humans. They are normal people who have big ideas and work very hard to turn their ideas into reality. Every business owner is different but there are a few key traits that they all seem to have in common. To help you decide if starting a business is right for you, below are some basic questions to ask yourself before making the leap.
1.) Can you make important decisions quickly?
Problems arise all the time in business, and it is very important that the business owner can respond to them quickly, decisively, and with a clear head. You will also need to be able to handle any consequences that may occur after the problem has been resolved. Being a business owner, requires you to have confidence under pressure but not arrogance. You need to be able to be part of the team you build, have confidence in each other’s skills, accept that mistakes will happen, and be able to learn from those mistakes to move forward. If you struggle to make effective decisions quickly, owning a business will be more difficult for you.
2.) Do you have energy?
Running a business is a lot of work. You need to have a high level of energy and excited to grow your brand. If you are the type of person who is constantly seeking after-work hobbies, weekend projects, and other activities, you may have the energy to start a new business.
3.) Are you creative?
Creativity is a key aspect of owning a business. It is important to have the ability to think out of the box. As the owner, you will be required to constantly come up with new ideas. These new ideas may include but not be limited to new product ideas, lead generating strategies, marketing thoughts, revenue boosting activities, improving the company culture, and more. If you are usually bursting with new ideas, a business is a great way for you to share those ideas with the rest of the world.
4.) Do you like to solve problems?
A business owner is basically a full-time problem solver. As we touched on in point #1, problems constantly arise in business. These problems should be viewed as opportunities and challenges rather than setbacks. As the owner, you cannot afford to be easily discouraged by setbacks or bad news. You need to be able to push forward and continue working hard. So, if you love solving problems and are not easily discouraged, business ownership could be for you. VAMBOA wishes you great success.
Regardless of how you answered the above questions, we hope that you can see that business ownership is not out of your reach if it is something you are interested in. If you are even slightly creative, energetic, and love to solve problems plus you have a great idea for a business, now is one of the best times to get started.
VAMBOA, the Veterans and Military Business Owners Association hopes that this article has not only been valuable but provided some unique perspective. We work hard to bring you important, positive, helpful, and timely information and are the “go to” online venue for Veteran and Military Business Owners. VAMBOA is a non-profit trade association. We do not charge members any dues or fees and members can also use our seal on their collateral and website. If you are not yet a member, you can register here:
https://vamboa.org/member-registration/
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https://vamboa.org/dell-technologies/
