Planning to start a business? Six questions to help determine how ready you are

Planning to start a business? Six questions to help determine how ready you are

| Business

Many ambitious projects are being launched and experience can help determine the success of any startup. For example, Jeff Bezos, the CEO of Amazon, wants to contribute to a new flight to the moon being organized by NASA in 2024. His goal is to create a spaceship.

So that your project would fly up just as high, learn more about the launch strategy in our course "From an Idea to a Working Business: Creating a Profitable Company From Scratch." Start with questions that helped Bezos successfully start his business.

Each question must be answered "yes" or "no". In case the answer does not come to mind immediately, postpone the startup. There is nothing wrong with that; the main thing is a successful and effective start.

Question #1. Does your project have a logical and economic basis?

Does your project have a logical and economic basis

Why is it necessary to invest time and effort in developing this project? There are two possible answers:

a) solving a problem or an urgent issue

b) the desire to achieve something and not miss an opportunity

In the case of Jeff Bezos, the project does not offer a compelling foundation. It does not solve the problem of ecology, nor does it protect humanity and the Earth. Is his idea worth all the billions of dollars he will spend? The answer is no. It is important to have a clear purpose as a base.

Question #2. Is there a leader?

Is there a leader

The foundation for developing a successful start-up is a charismatic sponsor and leader. Jeff Bezos is such a person. The level of trust in his activities directly depends on how successfully he is engaged in other projects. By the way, Bezos is very active in this area. He has had incredible success in the past, so why not try again? So the answer to this question is: yes, there is a leader.

Question #3. Are you seeing clear results?

Are you seeing clear results

The result of a project always serves as an indicator of how successful the launch was. And whether it took place at all. Scheduling accurate results ensures more stable start-up performance and contributes to longer run times in the right direction.

Speaking again about the Bezos project, a flight to the moon is a very resource-intensive project. In order to launch he will need to consider many other conditions. Even though Jeff Bezos has enormous potential, he does not name the exact amount and time frame. Does he know this data? The answer is clear: no.

Question #4. Is there any third-party launch support?

Is there any third-party launch support

If the project is led by people who show 100% interest in it, success is guaranteed. Support and assistance in implementation always pays off.

In the case of the previously mentioned Bezos project, there will always be interested parties. They can be government bodies and politicians themselves, various shareholders, and ordinary employees of the company.

Accordingly, the answer to the question asked is yes.

Question #5. Is there an exact deadline for the implementation of the plan?

Is there an exact deadline for the implementation of the plan

Having a specific deadline contributes to building a definite and clear plan that guarantees the success of all of the work. If there is no deadline, the work can become rather vague and even stretch over a long period of time.

Bezos defines the project as 2024. So the answer to the fifth question is yes.

Question No. 6. Is the project a priority?

Is the project a priority

When working on a project, you must remember about all of the external and internal elements that can affect its development. Of course, they cannot always be influenced, but the leader, CEO, and sponsors must have the necessary tools in place.

The launch of this spacecraft project is important for Jeff Bezos, as evidenced by the campaign he has already launched. Accordingly, the answer to the question is: yes.

To find out how ready your project is to launch, we recommend that you discuss the answers to these six questions with your team. Using a somewhat delayed start can play into your hands and provide a more efficient start.

In the end, a few words should be said about Jeff Bezos's project. Does he have a chance? Definitely yes, if his team spends more time on questions with negative answers. In any case, negatives can always be turned into positives that contribute to your future success.

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