In your opinion, what are the five biggest keys in starting a new business?
(I'll put my two cents worth in in a couple of days)
These are my top five...
To add onto this coming from my experience, is that a new business will require humility to God and obedience to God's laws especially in the area of tithing and giving
John C. Buckley said:
In my opinion, the 5 biggest keys in starting a new business are:
1) Fit-Does your new company "fit" with your values, personality, desires, goals, etc. You will not stick with something you truly do not believe in when times get tough!
2) Funding-Do you have enough capital to properly begin your ventures and KEEP IT FUNDED for at least 2-3 years; if possible, 5 years. This may come from a nest egg, a spouse willing to work, or even making it a part-time start up while you work a full-time job.
3) Foundation-Do you have the know-how to begin and continue this fledgling company? In other words, do you have the knowledge for this business or can you get it. Does it require a specialization or degree? Technical training? Include help from a Life or Dream Coach in that field and professional organizations and associations. Get the knowledge and wisdom you need to succeed!
4) Faith (and Family)-Do you believe that God has called you to this? Are you able to commit it to daily prayer and to the scrutiny of godly business people who will tell you the truth and help you? Do you commit yourself to constant improvement and accountability? Find out what God's Word says to you specifically and begin a confession of faith over you and your business.
5) Future-Do you have a Business Plan? Go online and do a Google search for business plan templates. Find out what they look like and some important information to help you plan. Do you have business goals? One, two, three, or even five years ahead is a great start in setting goals! Are they realistic and tangible? Now, let a mentor or a professional in your business field look at your plan and give you honest feedback BEFORE you start the business. There are several other things that I could mention, but these 5 are a great start!
You can have a successful business and see tremendous blessings as a result, just make sure you begin well. Be Blessed!