Getting a startup company off the ground is a difficult task. According to Bloomberg, 8 out of 10 startups fail, but despite these odds, people continue to enter the startup market everyday. Some are driven by the possibility of huge success, others by their belief in the value of their product.
There are endless articles of what you need to know before beginning your own business. One of the best tools an aspiring entrepreneur can have is a simple 10-point questionnaire. Created by Jason Nazar, CEO of Docstoc, these questions cut to the heart of the thought process involved in launching a startup.
1. What is your product or service?
2. What is its unique value proposition?
3. What is the market opportunity?
4. How do you make money?
5. Who is the management team?
6. What is the strategy?
7. How do you market your product or service?
8. How much capital does it need?
9. What are the projected financials for the company?
10. What is the valuation of the company