The business idea is the first step that gives the green light to your road to entrepreneurship. A bit like the foundations of a house, it forms the basis of your project.
If your business idea is solid, there’s a good chance that the rest of your journey will be, too. The tip to getting there? Asking yourself the right questions! By looking at your project with a realistic eye, you’ll be able to determine the potential obstacles, establish a concrete game plan, and avoid as many mistakes as possible.
The first question to ask before even thinking about your company idea is: what type of project do I want to embark on?
Do you want to buy a franchise? Take over an existing company? Start your project from scratch? These simple avenues for reflection will help you focus your energy on the right places and develop a plan that matches what you really want.
In the case of a franchise or takeover, the structure of the business will already be firmly established, and you can move on to the next steps.
However, if you want to create your project from A to Z, you’ll need to ask yourself the questions that will lead you to the right business idea:
- What are the needs of my community?
- Does a similar business already exist in my area? If so, what more would I have to offer?
- How much am I willing to spend on the startup of my project?
- Would I need premises? Staff? Equipment?
- How many hours per week am I willing to work?
These questions are merely examples
The SADCs and CAEs are full of tools to help you in the search for your business idea. While this may be your first experience in the business world, the advisors who work there rely on their knowledge of the field to offer you the perspective you need.
They can direct you to resources suited to your entrepreneurial project.
