FAQ: Related Questions on Starting A Business

        Starting a business can be hard work, but it doesn't need to be. There are lots of resources out there to help you start your own business, and you can find them by searching through Google and other platforms and by observing business models and most importantly your determination to start and build one. Before you start any business, you need to decide what products or services you will provide.  Start by thinking about your interests, passion, hobbies and skills. You will have to determine what items you will sell or what services you will provide.

        These are the questions that need to be answered clearly so that you will be able to plan clearly and implement those plans effectively.

1. What is your passion?
2. What are your talents?
3. What are your interests?
4. What are your skills?
5. Who is your target audience?
6. How will you get your audience?
7. How will you market your business?
8. What are your goals with the business?
9. What will you do when things get stressful?
10.How will you handle revenues?

1. What is your passion?        

        Our passion is our inspiration. Our passion is what drives us to live everyday with so much zeal. These are what we value, that which make us stand out and inspire us to do something different or better. It's what makes us happy on a daily basis. The answer to this question will be part of a strong foundation of your business. For example, you like cooking a lot and is your passion. With this, you can provide a catering business, a food blog and vlogs, etc.

2. What are your talents?

        This is the million dollar question. The answer is related to different types of people with different types of talents. Everyone has talents that are unique to themselves. You can be an expert on something or you can be a multi-tasker gifted with diverse talents. Whatever your talents are, enhance and use them. Explore what you are good at and what you can bring to the table. Your talents are your superpower that will help you bring your best to your business as well as to your personal life. For example, you are a talented guitarist. You can use that talent in bringing a new guitar application, start an online course on guitar lessons and the like.

 3. What are your interests?

        Your interests will inspire you to further expand your business. This will make you move out of the box. It may be that you are a talented cook but your interest is dancing or singing. Have you gone to a restaurant where the cook are dancing and singing while cooking? Oh, you must visit one!

 4. What are your skills?

        Skills are learned through different ways and once you have learned them, these are hard to forget. Your skills can become your expertise. For example, you are a highly skilled diver - of course divers surely know how to swim. But not all swimmers are divers yet they could learn how to dive as well and could become expert divers, too. How then will this help you in your business? Well, map out your business plan and see how you can use your skills to serve more or do more products.

5. Who is your target audience?

        When you have identified your talents, interests and skills, your target audience can now be easily identified or defined. For example, you want to offer diving lessons to either these three audiences: 1. expert swimmers without diving knowledge 2.  those who do not know how to swim nor dive 3. newbie swimmers and learning how to dive. You will have different approaches and tools for all these three audiences and from here, you can start how to plan your pool, equipment, etc.

6. How will you get your audience?
7. How will you market your business?

        These two question will be answered better and answers will be implemented more effectively through observing and analyzing the market. It can be that you promote via social media platforms, word of mouth, etc.  

8. What are your goals with the business?

        You should plan and set your business goals clearly in order to be successful.

9. What will you do when things get stressful?

        You may be thinking that this one question is weird at this point. Well, I tell you it is not. Your answer to this question must be straight forward and clear as well depending on situations. Some questions like, what will you do when you see that sales are low while “fix expenses” are fluctuating, too. Should you close? Should you raise prices? Should you lessen employees? These questions are answerable by “yes” or “no” NOT “maybe”, because if it is, you’ll get a sure answer to this question as well - are you profiting from your business now?

10. How will you handle revenues?

        Where do you want your profits to be used? A portion may be invested, a portion will be used for expansion, etc.

Conclusion        

        So whether you want to start an traditional business or an online business, these basic questions will be of much help. I hope you enjoyed reading my blog on this topic. Feel free to browse our shop here.

"Better to do something imperfectly than to do nothing perfectly." - Robert Schuller

"Beauty is also to be found in a day's work." - Mamie Sypert Burns