Emery E. Colcol
1 TransAm Plaza Drive, Suite 550
Oakbrook Terrace, IL 60181
Why? Because starting a business shouldn’t feel impossible. The goal is to empower yourself to make as smooth a transition as possible from employee to entrepreneur. And if you don’t have answers for these questions, you could find yourself slamming into obstacles instead of sailing into your future.
What INDUSTRY will you choose? Consider stability, potential, trends, and size. Check your gut—can you see yourself working in this industry for the next stage of your life?
Who is your MARKET? Not what, but WHO. Who is the precise client group you will serve? Every industry is filled with different demographics and target consumers. Identify yours.
What’s your DIFFERENTIATOR? What makes your offering different from the competition’s? What is your special formula—your secret sauce? Could others easily copy it—or can you protect it from your competitors?
What is your clearly defined PRODUCT or SERVICE? How much will it cost you to make and sell? Who will provide your business with the materials, inventory, or services you need to run it?
What is the big SOLUTION you’re bringing to the world? Write down the one great problem you’re going to solve and why your market wants or needs this solution so desperately.
And lastly, what special ABILITY qualifies you (and any business partners) to solve this problem for your market? With the right skills, you’ll deliver results that amaze and delight your clients. And there’s no marketing better than a satisfied customer.
Once you have the answers to these six questions, you’re ready to make decisions about transitioning to entrepreneurship. It proves that you’re serious about making the move, and helps eliminate fears and doubts about the process.
Don’t delay! Answer these six questions TODAY so you can move forward with confidence tomorrow.