Business Failure Rate of Starting a Home Business:Good Questions to See

Business Failure Rate
of Starting a Home Business

Good Questions to See if You are Ready

Although the business failure rate for unsuccessful businesses is extremely high, you don’t have to be a part of those business statistics.

5 Reasons for Successful Businesses:

Having a solid plan, having solid funding, passion for what you do, support from family and friends, and investing dedicated time in your business is five of the main reasons businesses succeed.

Having foreknowledge of the business failure rate will keep you focused on success and help you with avoiding business failures in your own start-up business.

Let’s ask a few questions to see if you are ready to start a home business:

Have you created a solid business plan?
Do you have enough money to support you and your business for 1-2 years while you are building it?
Do you have the personality and drive to work without a boss watching over you?
Are you willing to work long hard hours until your business is built?
Can you press past discouragement (a favorite past time of business owners)
Are you healthy enough to care for your own business?
Do you have a business background or resources available to help you?
Are you willing to outsource some work?
Do you have family and friends to support you?
Can you call friends or family to help out on occasion?
Can you imagine running this business in 10 years?
Are you willing to change your lifestyle for this endeavor?
What experience do you have?

All though these questions are not the end all, they will help you know if starting a home business is right for you. Some questions above aren’t even necessary to have. For example, no one believed in me when I was starting my domestic violence organization – actually it was quite opposite! But I knew starting it was the right decision and it is something I knew women needed. I pressed through “alone” eventually they saw its success and how it’s helping women – so they are in full support of me!

That may be the same for you. Your family may not see your vision now, but after they see money or the success of it, they’ll be cheering you on and applauding you the rest of the way.

Don’t let any of the questions above stop you (if it’s something you really want). Do what it takes to answer the questions in a positive outcome.