✅"The 7 questions you need to ask yourself before starting a Business from Scratch"

 

1. The Engineering Question:

 Can you create breakthrough technology instead of incremental improvements? This question emphasizes the importance of innovation and creating something that is significantly better than what exists currently.

 

2. The Timing Question: 

Is now the right time to start your particular business? Timing is crucial in business. You need to consider whether the market is ready for your product or service and whether you have the resources you need to launch your business now.

 

3. The Monopoly Question: 

Are you starting with a big share of a small market? It's often more effective to dominate a niche market than to be a small player in a large market.

 

4. The People Question: 

Do you have the right team? Your team's skills, experience, and dedication can significantly impact your business's success.

 

5. The Distribution Question: 

Do you have a way to not just create but deliver your product? A great product is useless if you can't get it into the hands of customers.

 

6. The Durability Question: 

Will your market position be defensible 10 and 20 years into the future? You need to consider your long-term strategy and how you will stay competitive in the future.

 

7. The Secret Question: 

Have you identified a unique opportunity that others don't see? This question encourages you to think outside the box and find opportunities that others have overlooked.

 

These questions are designed to provoke thought and encourage strategic planning. They can help you identify potential challenges and opportunities, making them a valuable tool for any business.

 

Here is a link to the book "Zero to One" I highly recommend reading it.

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