This 1970s Galway semi-d has been refreshed and revived
This 1970s Galway semi-d has been refreshed and revived

Nathalie Marquez Courtney

Material Intelligence: Meet the emerging designers from Ireland’s leading fashion colleges
Material Intelligence: Meet the emerging designers from Ireland’s leading fashion colleges

Ruth O'Connor

A red carpet first-timer brings us behind the scenes at Cannes Film Festival
A red carpet first-timer brings us behind the scenes at Cannes Film Festival

Kara O'Sullivan

Garden designer Peter Dowdall on the best places to find unique pieces for your garden
Garden designer Peter Dowdall on the best places to find unique pieces for your garden

Megan Burns

Key trends and challenges shaping the job market in 2025
Key trends and challenges shaping the job market in 2025

Leonie Corcoran

Inside this five-bedroom Edwardian Terenure home
Inside this five-bedroom Edwardian Terenure home

IMAGE

In The Meadows 2025 review: A festival for the fans
In The Meadows 2025 review: A festival for the fans

Sarah Gill

Sole Steps: Join us for a run and a coffee in Phoenix Park
Sole Steps: Join us for a run and a coffee in Phoenix Park

Edaein OConnell

We’re taking notes on the rich, tactile details of this Belfast café for our own homes
We’re taking notes on the rich, tactile details of this Belfast café for our own...

Megan Burns

Cathy White talks honestly about taking to the road as a new mum, without her baby
Cathy White talks honestly about taking to the road as a new mum, without her...

Fiona Alston

Image / Editorial

20 questions to ask yourself before starting a business


By Grace McGettigan
21st Jan 2020

The Devil Wears Prada - Meryl Streep

20 questions to ask yourself before starting a business

The Devil Wears Prada - Meryl Streep

Have you had a million-dollar idea that you’d like to make a reality? Here are 20 questions to ask yourself before starting a business


Congratulations – you’ve taken the first step on the road to entrepreneurship. It can seem a daunting journey, but it doesn’t have to be. Careful and meticulous planning is key, and once you’re prepared, there’s no reason why you won’t succeed.

At this early stage, it’s important to sit down and ask yourself some serious questions. Everything from your personal skillset and experience, to your credit rating and financial support, will need to be taken into account. Not only that, but you need to be honest with yourself about the viability of your business idea. Is it just a good idea, or a good money-making idea?

Here are 20 questions to ask yourself before starting a business.

  1. Why am I doing this / what is my motivation? Do I have the passion to follow this through?
  2. What problem am I, my product or my service trying to solve? Is there a gap in the market for me?
  3. Who is my customer? Have I considered their age group, buying habits and how much disposable income they have?
  4. Who else is offering this service, and how can I do it better? What will set me apart from the competition?
  5. Do I have the necessary business skills and experience to achieve this?
  6. How much will it cost me to set this business up? Have I factored in technology, rent and potential staffing costs?
  7. Should I hire an accountant?
  8. Will I need help from others with varying expertise, and how much will that cost?
  9. Do I need a loan? And if so, how much?
  10. What is my credit rating? Is it high enough to earn financial support?
  11. Are there any grants from local authorities I can apply for?
  12. Where should my business be located? Are there good transport links or will I rely on footfall? Will this location hold its value for me in five or 10 years time?
  13. How will I market my business to potential customers and clients? Do I know enough about advertising and PR?
  14. Do I have the necessary communication and customer service skills, or should I re-train?
  15. Am I willing to put in long hours and sacrifice spare time for the sake of the business?
  16. Am I willing to take on all roles to ensure this is a success – including CEO, social media manager, and customer service representative?
  17. How will this business impact my family life and relationships?
  18. Do I have a solid business plan? What are my specific targets and when do I need to achieve them by?
  19. Do I have enough support around me, both financially and emotionally, should things get tough?
  20. Is this a good money-making idea, or just a good idea? Are my plans viable and realistic?

Photo: The Devil Wears Prada (2006), Fox 2000 Pictures


Read more: 7 things to know before you take on a role in management

Read more: 5 Irish businesswomen weigh in on the so-called ‘work-life balance’

Read more: How to avoid being caught in a vicious cycle of low salaries