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Want to Start a Business? 5 Essential Questions No One Asks (Especially if you have a family)
Feb 24, 2025
Thinking about starting a business? Forget the usual questions about savings and job quitting. Discover the mindset shifts needed to move forward. Learn from past failures and the importance of planning and communication. Debunk entrepreneurial myths by starting small and testing ideas with real customers. Understand the need for financial preparation and the transition from side hustle to full-time work. Tips on discussing your venture with your employer are also covered, emphasizing open communication and personal motivations.
38:06
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Quick takeaways
- Aspiring entrepreneurs should prioritize asking insightful questions over traditional ones to discover essential aspects of business planning.
- Establishing a financial runway of 12 to 18 months is crucial for transitioning from a side hustle to a sustainable business.
Deep dives
Understanding the Right Questions
Many aspiring entrepreneurs often focus on the wrong questions when considering starting a business, such as how long it will take to become successful or how much savings they need. Instead, it’s essential to approach the concept from different angles, asking better, more insightful questions to understand the business landscape. This shift in questioning can lead them to recognize crucial aspects of business planning that they previously overlooked. For instance, understanding that starting a service-based business often requires minimal upfront investment can empower them to take the leap more confidently.
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