Questions You Must Answer Before Starting a Business

Determining how a business will fit into your life, not the other way around, is a crucial step that most entrepreneurs neglect. Choosing the right business from the get-go could save you from absolute misery and financial ruin.

What's more important to you? Having success financially? Or, living a life that is fulfilling, balanced, and healthy? You might be thinking, "well, if I could just make X dollars per year, my life would be perfect and I would be fulfilled, balanced, and healthy."

WRONG! WRONG! WRONG!

This is probably the most common trap that aspiring entrepreneurs fall into, myself included. We think that money is a cure-all and that it will save us from our miseries and problems. This couldn't be farther from the truth.

Let's look at Hollywood for just a second. How many rich and famous celebrities have committed suicide, or are completely screwed up? Trust me, money isn't the end goal here. Having a life is.

Backwards engineering the type of business you want to fit into your life will let you take control of more than just your financial needs. It will fulfill you emotionally, physically, mentally, and even spiritually. Before you consider starting a business, which often requires 16 hour days and sleepless nights - examine the life you are living now.

Can you handle work until the wee hours of the morning? Are your relationships stable and healthy?

Who or what else are you responsible for that could limit your focus and contribution to the business?

Do you have another job now? How many hours a day do you work there?

Are you emotionally healthy enough to handle rocky roads in the early stages of a business?

Are you determined, passionate, and near obsessed to make this business work?

This is by no means a complete list of all the questions you need to ask yourself before starting a brand new business. The point is you need to do a thorough "life-audit" to see how and where a business will fit into your life - before you spend your time, money, and energy on starting a business.

Once you do your "life-audit," and truly understand your life, what your weaknesses and strengths are, and where and how a business can fit into your life - things begin to change. Instead of "putting out the fires" in your life and eventually in your new business, you will have a bird's eye view of what is really important in your life.

Unlike 99% of other entrepreneurs, you'll feel confident, happy, and passionate about your current situation and your future.

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