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Episode 27: Seven questions to ask yourself before jumping into a new business strategy

Seven questions to ask yourself before jumping into a new business strategy

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Do you ever feel like there are more opportunities and good business ideas out there than you even have time to investigate? I can help! After helping thousands of entrepreneurs and online business building warriors like you since 2002 we’ve detected some patterns on how and why many of us wind up on dead ends. Many of us leap before we ask the most important basic questions about all those “good ideas” we run into. Today I have seven basic questions for you – ask them all before you leap!

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  1. Is this a good fit for your current budget, schedule, talents, experience and connections?
  2. Will you be creatively serving others if you pursue this model? Is it something you’ll be proud to associate with?
  3. Does my spouse or the people who know me best think it’s a good fit for me?
  4. Are there others doing well with this model that I can follow? What’s their success rate? Are they available to answer questions and help me?
  5. Are there major trends or outside forces that make this a good/bad idea?
  6. Can it be expanded, automated or lead to other bigger and better income streams as it grows?
  7. Is the opportunity cost unrealistic? In other words, What do I have to give up to pursue this?

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