25 Questions to Ask Yourself Before Starting a Business

Before you start a business, ask yourself what problem you solve, who it is for, how you will make money, and what you are willing to commit. These 25 questions will show you what you know and what you still need to test.

Your problem and idea

  1. What specific problem am I solving?
  2. How do people deal with this problem today?
  3. Why is my solution better than what they use now?
  4. Why am I the right person to do this?
  5. What is the simplest version I could test first?

Your customers and market

  1. Who exactly is my first customer?
  2. Have I spoken to at least ten of them?
  3. Where do they already spend their time and money?
  4. Who are my competitors, and what do customers like about them?
  5. How will people find out about me?

Your money

  1. How will this business make money?
  2. What will customers pay, and how do I know?
  3. What will it cost to start and to run each month?
  4. How long can I go without income from this business?
  5. Can I bootstrap, or do I need funding?

Your risks and rules

  1. What is the biggest assumption that could prove me wrong?
  2. What is the cheapest way to test that assumption?
  3. What legal structure, licenses, or registrations do I need?
  4. How will I protect my name and ideas?
  5. At what point would I change direction or stop?

Your commitment

  1. Why do I want to do this, and will that reason last?
  2. How many hours can I give it each week?
  3. Who will support me, and who do I need on my team?
  4. What am I willing to give up?
  5. What does success look like to me in one year?

What to do with your answers

Mark any question you cannot answer with evidence. Those are your next tasks. Pick the riskiest one and find a way to test it this week.

Success Cards takes this approach across 101 business topics. You can work through the deck in order as a planning workbook, or see journal prompts for entrepreneurs for a lighter daily practice.

Frequently asked questions

What should I ask myself before starting a business?

Start with four areas: what problem you solve, who has that problem, how you will make money, and whether you can commit the time and funds to test it. If you cannot answer those yet, your first job is research.

How do I know if my business idea is good?

Talk to potential customers before you build much. A strong sign is that people have the problem now, already spend time or money on it, and will commit to trying your solution.