Starting your own business can be exciting. You’ve got an idea, a vision, maybe even a name. But before you dive in, there are some tough questions you should ask yourself — the kind that make you stop and think.
These questions aren’t meant to scare you off. They’re designed to help you build a business that actually works. One that fits your life, has a clear purpose, and gives you the best shot at success.
Let’s walk through the 10 key questions that every entrepreneur should answer before they start.
Why Do I Want to Start This Business?
This is your foundation. Is it freedom? Passion? A problem you want to solve? Money?
There’s no wrong answer — but the reason matters. Because when things get hard (and they will), your “why” is what keeps you going. If your reason isn’t strong enough, it’s easy to quit. A clear purpose gives your work meaning and helps guide every decision you’ll make.
What Problem Am I Solving?
Every successful business exists because it solves a problem. If you can’t clearly define what that problem is, you’ll struggle to sell your product or service.
Ask yourself: who is your customer, and what pain are they feeling? How does your offer make their life better or easier?
The clearer you are on this, the more targeted your marketing can be. People don’t pay for products — they pay for solutions.
Who Are My Customers?
Don’t try to build a business for everyone. Instead, focus on your ideal customer — the kind of person who would benefit most from what you’re offering.
Think about their age, interests, goals, fears, and buying habits. Where do they spend time online? What kind of language do they use? How do they make decisions?
When you understand your customer deeply, you can speak directly to them — and that’s how you earn attention and trust.
What Makes Me Different?
Let’s be honest — most markets are crowded. So what makes your business stand out?
This could be your pricing, your packaging, your personality, your process, or something else entirely. The point is to find a reason for people to choose you over someone else.
It doesn’t have to be big. Even small differences — like better customer service or a clearer message — can give you an edge if you’re consistent.
Do I Have the Time and Energy?
Starting a business takes more than a good idea. It takes time, focus, and a lot of effort — especially in the early days.
Be honest with yourself. Do you have the space in your life to commit to this? If you’ve got a full-time job, family responsibilities, or health challenges, you’ll need a realistic plan to manage your energy.
You don’t need to work 80 hours a week. But you do need consistent time to build, test, and improve what you’re offering. Without that, progress will stall.
How Will I Make Money?
A great idea means nothing if it doesn’t lead to revenue. So map it out.
How exactly will you make money? Will you sell products online? Offer services? Charge subscriptions? Run ads? License software?
What are your expected costs, and how much will you need to charge to be profitable? Do the numbers make sense?
It doesn’t have to be perfect — but having a basic financial plan helps you avoid surprises and build something sustainable.
What Will Success Look Like?
Success means different things to different people. For some, it’s six figures in revenue. For others, it’s the freedom to work from home, or to make an extra £500 a month.
Define what success means for you, and be specific. That way, you can measure progress — and make smarter decisions about where to focus your time.
Otherwise, you’ll constantly feel behind, even if things are going well.
What Skills Do I Have (And What Will I Need)?
You might be great at design, but not at sales. Or you might know your industry well, but struggle with marketing. That’s okay.
The key is knowing where your strengths are — and where you’ll need help. Can you learn the skills you’re missing? Or will you need to outsource certain tasks?
This self-awareness helps you play to your strengths and avoid wasting time on things you’re not equipped to handle alone.
Am I Ready to Take Risks?
There’s always some risk involved in starting a business. You might lose money, waste time, or deal with failure. That’s part of the deal.
But successful entrepreneurs accept that. They don’t run from risk — they learn to manage it. They test ideas, learn from feedback, and make smart adjustments.
If you’re someone who needs everything to be perfect before taking action, business might feel overwhelming. But if you’re willing to learn and adapt, you’ll get better with every step.
Who Will Support Me?
You don’t need a co-founder or investor. But you do need support — whether that’s a partner who believes in you, friends who listen, or a mentor who’s been there before.
Running a business can be isolating. Having people around you who encourage and challenge you can make all the difference.
Support doesn’t always come from where you expect. It might be a community group, an online forum, or a coach you hire. The key is: don’t go it alone.
Final Thoughts
Before you jump into a new business, take a step back and ask yourself the tough questions.
You don’t need all the answers right away. But the more clarity you get now, the fewer surprises you’ll face later. A strong foundation leads to stronger results.
So grab a notebook, write down your thoughts, and use these questions to shape a business that fits your life — not the other way around.
