Business Startup: 4 Questions to Ask Yourself

By Heidy Perales · August 8, 2019

Business Startup: 4 Questions to Ask Yourself

What are some key points to consider asking yourself when planning to start a business?

Many have considered starting their own business. The process usually starts with having an idea, whether it is selling a service, a product, or making a difference, etc. However, after this idea hits, the question usually becomes, 

“Now what?”

Once you have an idea of the type of business you plan to have, it’s important to consider asking yourself some fundamental questions before getting to the next level. In an effort to identify someone's personal experiences in the world of business creation, we interviewed the owner of Countryside Amish Furniture, Mel Stuztman, to give us some of his insights from his own experience.

 

What are some key points to consider asking yourself when planning to start a business? 

 

1) Do I love this? 

First and foremost, it is important to be real with yourself. Are you going to love and enjoy the business you plan to start? Are you going to be passionate about it? When you start your own business, you become your own boss - it’s important that you choose something you won’t get tired of. 

2) What all does this business entail? 

Take some time to do some information gathering. This is the time to ask everything you need to know about the business you are getting into. Don’t go into it blindly. Find out all that the business entails. Learn as much about the industry as you can. Everything else should come afterwards.  

3) How is the market? 

To really reach  maximum growth, you must ask yourself if there is a need for it and where that need is located. Is it ample? 

“From experience, I started a business because I saw how it was working for some people that I knew. When I started to work  that same business industry, I made the mistake of not locating myself in the right place. The location that I moved to had no market need for what my business was offering. Because I didn’t place myself in the area with the right demographics and needs, my business didn’t grow as I was expecting it to.”  - Mel Stutzman, Owner of CAF 


4) What does my gut say?

After spending time researching and planning, ask yourself what your gut says. What potential do you see? Where do you see yourself taking the business? What do you think this business will do? What is the potential of it and how much of a risk do you see? Reflect. Reflect. Reflect.


BONUS: 

Being a family business man, another important key point that Mel took into consideration was the balance between home and work.

If family is important, you may also ask yourself, “Will this fit my family’s lifestyle?”

When it comes to starting a business and valuing family, having a balance between both is very important. Knowing that the beginning stages of starting a business takes time, dedication, 60-80 hours a week, it is extremely important that your family is onboard with it all. They have to understand that it is only temporary and that it won’t take over completely forever. For this reason it is important to consider thinking if the business will align with your family goals and family lifestyle. 

“I knew that I didn’t want my business to take me away from my family so I set the business hours to respect having Saturdays off for my family. Your family has to be on board, because there were times when I would have to leave the family dinner table to answer a business call or something work related. It’s about communicating and finding balance.” - Mel Stutzman, Owner of CAF. 

 

Starting a business comes with many steps along the way; it is a long process. We hope these key questions will help guide you in your startup.