1. Where did you get the business idea?
  2. Do you really believe in your idea(s)?
  3. Have you tested the idea with friends, relatives, and the market.
  4. Is your idea unique, and if so, what is the likelihood of others entering your local market with the same or similar idea?
  5. Are you into a market with existing competition, and if so, how will you differentiate yourself?
  6. Are you taking advantage of a strategic opportunity?
  7. Will this satisfy your career and financial future, is this an emotional pursuit?
  8. Have you ever talked to someone in this industry?
  9. What is your desired timeline?
  10. Do you have education and/or work experience in the chosen industry?
  11. Do you like the product, the service, or industry?
  12. Where do you fit:
    • Visionary - the idea person and strategic thinker; self-starter;
    • Manager/organizer;
    • Builder/doer.
  13. Can you multitask?
  14. Are you resourceful, and do you have contacts to unofficially supplement your skills, talents, and experience.
  15. Do you have formal complementary resources, like a partner (his/her strengths vs yours?)
  16. Can you make solid decisions, quickly?
  17. Are you in good health?
  18. Have you ever started a business?
  19. Do you understand business finance?
  20. Can you work 10-12 hours days and no weekends off (strong work ethic?)
  21. Do you have good time management skills?
  22. Have you discussed all the challenges of owning a business with your family?
  23. Have you ever created a business plan?
  24. Do you have a good personal credit?
  25. Will you have to borrow money?
  26. Will you have investors in the business?
  27. Will you be able to afford the monthly cash demands?
  28. How will you market your business, and how will you sell your products/services?
  29. Can you tolerate a variety of personalities?
  30. Can you relate to and tolerate the challenges that you will face?
  31. Can you operate in a state of uncertainty?
  32. Are you creative and enterprising?
  33. Are you willing to invest extra time in the community, in the industry, and/or the related technology?
  34. Have you ever hired someone, or fired someone?
  35. Have you thought about the busines details like location, operations, etc.?
  36. How will you define success?
  37. Have you performed a business valuation of the existing business to determine cash flow, growth, and risk?
  38. What are your plans for growth?
  39. What are your plans for crisis management?
Start my own business?