The questions that one needs to ask before starting a business are as follows:
1.What gaps exist in the market?
2.Why do I want to fill the gap i.e. start the business?
3.What business ideas do i have?
4.Are the business ideas viable ? If not, how do I make it viable?
5.How will I test and validate the business idea?
6.What problems do I wish to solve?
7.What market niches are being underserved?
8.Who are my target customers?
9.How much capital do i need to start my business?
10.Where can i access such funds?
11.Do I have the personal and financial backing from family and friends ?
12.Who are the competitors/who else is already doing what I want to do?
13.What differentiates my product or solution from the competition?
14.What sacrifices and risks am I willing to take for the business?
15.Do I have the necessary skills to start and manage the day-to-day runnings of the business? if not, how can I acquire them?
16.What are the short term and the long-term goals for both myself and my business?
17.Do I envision myself doing this business 5 or 10 years down the line?
18.Do I have a good understanding of the industry I am trying to venture into?
19.What experience and education do i need to have?
20.What organizational structure do I need for my business both in the short term and the long term?
21.Do I need any co-founder for the business?
22.What complementary skills would the co-founder need to have for the smooth and successful functioning of the business?
23.How do I Register a Company?
24.How many staff or employees will the business require?
25.What expenses, including taxes, insurance, do I need to take into account?
26.How do I exit my business few years down the line if the business is unsuccessful
27.Do i have a succession plan in place?