· Why do I want to start a business?
· What problem do I look to solve/what niches have not been served/what gaps exist in the market?
· What is the target market for my business?
· What funds are needed to start my company? How to get those funds?
· Do I have the personal and financial support of friends and family?
· Is the business idea scalable? If not, how do I make it scalable?
· Who are the competitors/who else is already doing what I want to do?
· What makes my product or solution special or different from the competition?
· How will I test and validate the product idea?
· Am I ready to give the required time, resources and capital to succeed? What sacrifices and risks am I ready to take for the business?
· Do I have the necessary skills and abilities to start and manage the day-to-day operations of a company?
· What are the short and long-term goals, personally and financially, for both myself and my business? Can I see myself doing this 5 or 10 years down the line?
· Do I have sufficient knowledge and understanding of the industry I am looking to enter? How can my past experience and education help me?
· Do I need a co-founder(s) for the business? If yes, what complementary skills would the co-founder(s) need to have for the smooth and successful functioning of the business?
· What organization structure would I need for my company in the short term and long term?
· How many employees will I need?
· How is the legal structure to be set up for my company?
· What kind of taxes would I have to pay for the business? What other expenses, including insurance, do I need to take into account?
· Am I ready to relentlessly meet and network with lots of people for investments, promotions, advertisements etc.?
· How will I exit my business few years down the line if I want to and how will the responsibilities be transferred in such a case?
