How to know if you should launch that business idea
In this episode of the No Fluff - Small Business Simplified podcast we're talking about the questions you need to ask yourself before launching your business idea.
Many of us have ideas for revenue streams and new businesses all the time! But that doesn't mean every idea will be successful and will make us feel supported.
Before you start your business from that new idea, ask yourself these questions.
Can this idea actually make money? Is there a need or problem that this product or service solves that people would pay for?
Is it right for me? Think about the WHY not only for the potential business but in your life. Where do you want to be, what do you want to be doing, how do you want to feel 30 years from now? How would this business fit into that and support that?
What would this business look like in the long term? What would scaling it (if that’s what you want to do) look like? What other products or services would this business also sell?
What do people actually want from this product or service? How much would they pay for it? What transformation does it provide? This is your market research step!
What’s the business plan and logistics of starting this business? How much time, energy, or monetary investment will it need from me? Is that realistic for my life right now?
By asking yourself these questions BEFORE you launch your business, you’re going to ensure that you don’t spend a ton of time building a business that doesn’t actually support you and your long term goals. While this step can feel like it’s slowing you down, it will actually save you a ton of time in the long run when it comes to launching and growing your business.
If you’re struggling to answer these questions or if you started a business without thinking through these points, and now you’re struggling to grow then it’s time to book a Digital Strategy Intensive. During your Intensive we’ll take a deep dive into these questions so that you walk away with a clear action plan and the confidence that you know exactly what you need to focus on for your business. Learn more and book your Digital Strategy Intensive here.