{"id":8903,"date":"2022-04-07T07:43:09","date_gmt":"2022-04-07T04:43:09","guid":{"rendered":"https:\/\/legacy.kwiberry.com\/?p=8903"},"modified":"2022-04-07T07:43:09","modified_gmt":"2022-04-07T04:43:09","slug":"10-questions-you-should-ask-yourself-as-a-small-business-owner-1","status":"publish","type":"post","link":"https:\/\/kwiberry.com\/10-questions-you-should-ask-yourself-as-a-small-business-owner-1\/","title":{"rendered":"10 QUESTIONS YOU SHOULD ASK YOURSELF AS A SMALL BUSINESS OWNER 1"},"content":{"rendered":"
Everyone these days has a business or is actively considering starting a profitable side venture- something to bring in some extra cash. But a successful business isn\u2019t created by mere wishful thinking. In fact, it will take more than a few plans here and there.<\/span><\/p>\n To start and sustain your idea to profitability, you\u2019ll need a systemic, well-thought out strategy and you\u2019ll definitely have answered the most important questions for any proactive business owner.\u00a0<\/span><\/p>\n Here\u2019s our own compilation of questions you should ask before you set up your product or service for sales, i.e right before you get yourself into it:<\/span><\/p>\n <\/p>\n 1. Why do I even want to start a business?<\/strong><\/p>\n Make sure you\u2019re not being pressured to own a business. Having the right \u201cwhy\u201d will be your motivation to continue when the going gets tough. Write down 3 solid factors influencing your decision.<\/span><\/p>\n <\/p>\n 2. Can this business idea make me money?<\/strong><\/p>\n Your business isn\u2019t charity. Are there actual prospects for real, significant profits both now and in the future?<\/span><\/p>\n <\/p>\n 3. Who is my target audience?<\/strong><\/p>\n Define a specific user persona and modify your product or service accordingly while knowing the exact pain points of your customer and know how best to meet them.<\/span><\/p>\n <\/p>\n 4. Who are my competitors?<\/strong><\/p>\n Scout for businesses with a similar product\/service and those who also target your audience. Learn from their strategies and create a unique selling point from what you\u2019ve gathered.\u00a0<\/span><\/p>\n <\/p>\n 5. How will I price my products?<\/strong><\/p>\n