3 QUESTIONS BEFORE STARTING A BUSINESS AND BECOMING AN ENTREPRENEUR

When fellow readers click on this article, then we assume that fellow readers want to start a business and have the desire to become an entrepreneur. Is this assumption correct or not? If your fellow readers are really interested in starting a business, but still confused about where to start? Don’t worry! In this article, we will help all Career Advice colleagues to get enlightened so that fellow readers become more confident to start a business and strive to become entrepreneurs from now on.

 

According to the entrepreneur’s website, there are 3 main questions that are very important for us to think long before starting a business and becoming an entrepreneur for the products or services we offer to consumers. Hmm, what are the three important questions needed? Let us consider the following explanation.

 

1. Concept: “Is My Business Idea Good Enough?” 

Every want to do every action, of course we have to start with a concept. Say I am a reliable painter. To produce a beautiful painting, I must think about the concept of my painting carefully. What picture will I paint, whether it’s something abstract, animal or human face, what color will I use, and so on.

 

As with prospective business people, a strong and mature concept is indispensable in any business. But keep in mind that not all ideas can produce good results, just because our closest friends say “that’s an amazing concept!”.

 

As the owner of an idea, we might think that, “it seems like my idea has never been thought of by anyone!” Yep, it’s as if our idea is very bright and it’s certain to be successful. However, we strongly encourage Career Advice colleagues who want to start a business to consider a number of important questions below to check the strength of the concept:

– Is the business concept I will make needed by the community? If so, how important is the level of need?

– If this business concept is indeed important, how strong is the competition in this business field?

– Do I have a great and unique ability to provide this product or service?

– Approximately how large is the potential customer base of this business?

– Do I have business experience that is relevant to this concept before?

– Will there be a market trend in the future that creates new products and beats my current product?

 

When we have asked the questions above, we will increasingly understand about our true business concept. Our beliefs and doubts will depend on the answers to the questions above.

 

2. Execution: “How well can I run this business concept? 

When we are sure of the business concept that has been designed, even when we measure the strength of the business concept through a number of questions above, we are increasingly convinced that the business concept is feasible to be executed immediately.

 

Eits, but wait a minute. Even though it’s good to have a solid business idea, we also need to think about how to execute well from our business concept. Nobody can execute our business concept very well, except ourselves. So to avoid theft of business concepts, it is very important for us to immediately execute all existing business concepts.

 

Before executing our business concept, it is important for us to measure our ability “how well can I run this business concept?” and to find out the answer, there are several other questions we need to answer in this execution process, which are as follows:

– When I ran this business concept, how could I provide great customer service ?

– Can this business concept help me produce high-quality products or services? If so, how?

– How efficient can I produce this product or service?

– What challenges will I find when running this business concept?

– Will marketing this product or service run easily? Or even the opposite?

 

3. Profitability: “Will This Business Model Be Profitable?” 

Thinking about profits is natural, unless your fellow readers want to set up a non-profit or non-profit organization. Our goal in starting a business is to produce a product or service that is needed by many people and benefit from these business activities.

 

The business concept and its execution will be successful in generating profits if the marketing process is carried out correctly and correctly. What if it’s not right? Maybe we will still get a profit, but the profit obtained is not as much as expected. For example, if our target customers are millennials, but we market them offline in traditional markets, then we can be sure our products will not be popular among millennials.

 

Well, here are some questions that can help our products sell well:

– How much capital do we spend? And, what percentage of profits do we need to at least be able to get the initial capital back?

– How much does it cost to market a product or service?

– How do we sell the products or services that we produce? Is it through online, or sell it directly in traditional markets?

– Are we more focused on B2B or B2C sales?

– Are we going to sell these products / services to individuals or groups?

– Do we only sell products? Or, do we sell products and services?

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