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Ten Questions To Ask Yourself Before You Start Your Own Business

Ten Questions To Ask Yourself Before You Start Your Own Business

    It is generally agreed that we need more business start-ups.  Small businesses are engines for economic growth, innovation and employment.  We need more entrepreneurial activity and that means more individuals taking the dangerous, difficult and courageous decision to start their own business.  How do you go about starting a new business?  Well obviously you need a good idea.  Once you have one I recommend that you ask yourself these questions:

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    1.  Am I good at this?  Do I have the skills; talents and experience that will help me succeed in this venture?  Make a list of your strengths and weaknesses.  Does this venture play to your strengths? How can you compensate your weaknesses?
    2. Do people really need what I will offer?  Who will buy it and why will they need it?  If there is no customer need then the business will fail.
    3. Can I make money doing this?  Once it is up and running will it make a good profit?  If not, why bother?
    4. Do I have a business plan?  Things will not go according to your plan but the act of making the plan helps you greatly.  You will need a sound written plan if you want a loan or investment.
    5. Do I have the financial resources to get this off the ground?  New businesses generally take more time and more money than you at first expect.  Will you be able to build the business and cover your living costs for the period until cash flow is positive?
    6. Does my family support me in this initiative?  It is important to discuss your plans with your immediate family and get their buy-in.  It will be needed in the difficult months ahead.
    7. What is different about my business?  Is it similar to other businesses or do I have something unique to offer?  Why will customers choose us rather than the competition? It is more important to be different than to be better.
    8. What is my sales and marketing strategy?  Who is the target market and how will I reach them? Can we test the sales proposition with some target clients before we go live?
    9. Do I have a support network of colleagues or friends who can help me and compensate for my weaknesses or lack of experience?  Most successful start-ups are partnerships where there is a balance of strengths.  If you do not have partners in the business do you have a network of contacts and helpers who can advise and assist?
    10. Is there a plan B?  If things do not go according to plan is there a fall-back strategy for me personally and for the business?  Am I flexible enough to adapt and cope with the vicissitudes of a start-up?

    You need positive answers to most if not all the questions.  Even then it will take enormous commitment and hard work to make the new venture a success. I am sorry to say that most new business start-ups fail.  However, for those that succeed there are great personal and financial rewards.  Above all the founder can relish the achievement of having created something of real value to the whole community.  Good luck with your start-up!

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    Paul Sloane

    Professional Keynote Speaker, Author, Innovation Expert

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    Last Updated on May 23, 2021

    10 Best Free Job Apps You Need For Effective Job Hunting

    10 Best Free Job Apps You Need For Effective Job Hunting

    Seeking for the right job but not sure how to do it in a more effective way?

    Try job search apps!

    To make the job hunting process easier, I’m recommending 10 best job apps that can help you look for the right match anywhere at any time. The best of all? They’re all free!

    1. jobandtalent

    jobandtalent

      Great for browsing new jobs as you commute home via subway, bus or carpool, the jobandtalent app is like a Pinterest for job seekers.

      Easily browse, save and revisit job postings from your smartphone and receive notifications about jobs that match your professional qualifications.

      Download it for iOS and Android.

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      2. Jobr

      jobr

        This job hunting app is unique in that it lets you anonymously browse job listings based on your professional resume. If a company that you like also shows an interest in you, the app let’s you chat directly with a company rep. Great for getting your foot in the door and making a memorable impression.

        Download it for iOS.

        3. Monster Job Search

        monster job search

          I’m a big fan of Monster. It’s one of the first job sites employers think of when they want to list a new position online. The Monster Job Search app functions pretty similarly to the normal website, so it’s very easy to use for not-so-tech-savvy job hunters.

          Download it for iOS and Android.

          4. Jobs and Career Search

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          job and career search

            This is a good, simple app for browsing global locations for your next job. With a job index of more than 50,000 jobs listed globally, this app is a good choice if you are moving to a new area and want to line a new job up quickly.

            Download it for iOS.

            5. Hyper Networking Groups

            hyper networking groups

              This job hunting app isn’t so much a job hunting app as it is a connections hunting app. It’s great for learning who’s who in your desired field and forming connections. It also shows you how you and your industry connections are connected via your social networks, so you can follow up with them on your other social sites.

              Download it for iOS.

              6. CardDrop

              CardDrop

                CardDrop is an awesome job hunting app that let’s you digitally drop and pick up virtual business cards. This app is great for helping you make new connections at seminars, interviews, meetings and conferences. You can also attach social media profiles to the cards you pick up or send to enable easier connecting on social networks.

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                Download it for Android and iOS.

                7. Job Interview Questions

                interview questions both

                  Okay, so this app looks kind of outdated, but it’s super useful for getting you into the swing of answering any kind of interview question that is thrown your way. The big benefit of using this app is that it explains to you what your interviewers motivations might be for asking you a specific kind of question. Learn what your interviewer is looking for in your answers and be more prepared for the real interview when the time comes.

                  Download it for Android.

                  8. 101 Interview Questions and Answers

                  101 both

                    This app is great because it provides guidance about the kinds of answers you should give for each kind of question. Think of it as an essay rubric but for job interview questions.

                    Download it for Android.

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                    9. Job Interview Question-Answer

                    q and a

                      Feeling confident with your text-answered interview questions but concerned about doing the face-to-face interview? This app prepares you for interacting with your interviewer by simulating an employer asking you questions.

                      You can record your response and see what you look like to the interviewer to understand what movements, vocal pauses, etc. you need to work on.

                      Download this app for iOS and Android.

                      10. HireVue

                      hirevue

                        HireVue is a great job hunting app for those times when your interviewer wants to get some preliminary questions out of the way.

                        When an interested employer wants to interview you, they send you a request via HireVue and you can answer it in your free time, when you’re ready. Your interview might consist of a some FaceTime, some multiple choice questions or open-ended text answers and can be completed and sent to the interviewer when you’re finish.

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                        Download it for Android and iOS.

                        Featured photo credit: Yura Fresh via unsplash.com

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