Do you have an idea for a project but don’t know how to go about making it a reality? Browse the questions below and answer them honestly. It’ll help you see things more clearly!
Step 1: Clearly define my idea
- Can I explain my idea simply?
- What products or services do I want to sell?
- Who will my future customers be?
- Will I be taking on a partner?
Step 2: My idea and me
- Why do I want to start my own business? Is it to be my own boss? Being independent? To take on responsibility? Entrepreneurial spirit? To make a dream come true?
- Do I have the skills needed to set up my own business? Accounting? Management? In marketing?
- Does this project suit my tastes? My personality? My personal constraints? My experience?
- Am I ready to commit myself fully to this project?
- What do the people around me think of my project?
Step 3: Project constraints
- Are there any regulatory constraints? Do I have a settlement permit? Do I need a specific diploma?
- Do my products or services already exist?
- If so, how will I differentiate myself?
- Where and how will I sell them?
- Is the project affordable?
Once you’ve answered these questions, and you’re still determined to set up your own business, it’s time to do a little market research!