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How to increase the odds for your business

In business, there are no guarantees. There is simply no way to eliminate all the risks associated with starting a small business – but you can improve your chances of success with good planning, preparation, and insight.

Like you I Never Thought I Could answer 77 questions that would help me avoid business failure  – But I Finally Discovered The Secret! Here’s How… Are you really ready? Is Entrepreneurship For You?

Are you the right person for the business you have chosen?

I would advise you don’t skip the 77 questions, why? Well it would be like short changing your potentially new clients.

So persevere, some you will answer quickly, others you will need to do a little research, but believe it, it’s worth it, you will be clearer and more focused about what you are going to do.

  1. Where do you see bottlenecks developing?

  2. How important is quality control?

  3. What is the current backlog?

  4. Is the product assembly line based or individually customized?

  5. What are the health and safety concerns in producing this product?

  6. Who are your suppliers and how long have they been in business?

  7. How many sources of suppliers are there?

  8. Currently, are there any shortages in components?

  9. How old is your company’s equipment?

  10. What is the yearly maintenance costs?

I recommend you get a little notebook and start working on each question. For those you cannot answer a specific question, stop do some research, find the answer and make a note.

This is also an invaluable exercise if you are already in business, it can help you clarify where you are today and help you plot where you need to get too and how to do it.

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