So you think you can startup? Here are few questions that you need to answer before you startup your business.  The questions may look small and simple but requires a lot of thought, brainstorming and research to get answers specific to your situation. I haven’t provided answers here( but, yes it has hyperlinks that can help you in the right direction) because this is for you to ponder on. Each one of us can have a different opinion/situation on the below questionnaire, find out yours.

1. Why do I want to start a business?
2. What kind of Business should I start, should it be a product or a service?
3. What is the problem statement that I am trying to address?
4. Is my product valuable, does it solve any problem?
5. How /what will I name my startup?
6. Is my startup idea any different from what is already available in the market?
7. Who is my competition?
8. Do I have the time and patience, a startup requires?
9. Can I operate my business from Home?
10. How many employees do I need, how will I hire them?
11. Who can help me in my venture?
12. Till how much time should/can I wait to see any substantial output?
13. How much money do I need?
14. What will be the right location for my business, How do I choose it?
15. Who is my target audience and how will I attract them?
16. Is it better for me to start a franchise or do I really want to create something new?
17. Should I start just one company or a backup  plan as well?
18. When can I expect to be profitable?
19. Do I want to/am I capable of bootstrapping?
20. How Can I obtain financing?
21. Do I require a licence?
22. How will I market my business?
23. What will my business plan be like? Who will write it?
24. What all hurdles and setbacks should I expect?
25. What will my exit strategy be?
26. Should I pay myself as well?
27. What will be the outcome, if I fail?

Believe me if you have answers ready to these questions, you are ready for the journey!