If you have any plans of starting a business or remaining in business, it would be a good idea to have answers to the following questions:
1) Who are we?
2) What do we really do?
3) What is our Chief competitive advantage?
4) Is there a real demand for what we do?
5) What do we think about first. Profits or People?
6) Why we formed this business? If it's primarily focused to make money, you lose.
7) Is your product or service better or just a different version of the same?
I find that many upstart companies and even many established (but not overly successful) companies have a difficult time answering these.
I am routinely asked my opinion on various "new" business opportunities across many different subject matters. If I can't get an answer on these questions because you don't know the answer, starting a new business is not a good idea.
When you can answer ALL these questions honestly, clearly, and concisely and have the ability to relay them ALL to your customers....YOU WIN!
Curt Fletcher is a Real Estate Professional, Business Development Strategist, Published Author of the book, "How To Sell More Homes and Increase Your Income," Sales Trainer, and Professional Speaker that focuses on improving your Likeability to increase your Opportunities for Success!
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