Does your product or service have a market? No, does it really? Is this market growing, what is its exact size and potential? Don’t have the answers? Don’t leave it up to a vacant shop or quiet sales line to tell you.
All to often, these sorts of questions catch the new business owner off guard. This is surprising considering that you would expect an immediate and emphatic ‘Yes!’ Those that don’t have an answer are effectively walking blind – very dangerous.
The reason why answers to these questions are not forthcoming is that small business owners do not plan. There are simply not enough hours in the day to do so. Instead, even the most critical business decisions come down to a gut feeling. And, without any evidence that a decision is the right one, these gut reactions are often nothing more than a gamble – sometimes they will pay off, but, sometimes they won’t.
It may be time to start asking questions.