Asking the Right Questions About Building Startups

February 1, 2010 | Thomas Oppong | Startup Resources | No Comments

Too many questions needs to be asked and answered before building startups. But my question is how many of those questions needs to be right before you can actually hit the road and build the product.If you have answers to some of these questions investors will likely take you serious and even begin negotiation with you about your idea.

Which market are you serving and how big is that market

How Big is the Industry you want to serve

Who is the biggest competitor that industry

Can you count 10 customers who will be willing to use your product

Can you Bootstrap the idea or you will need a a venture capital fund

What is the trend in the industry you have chosen and how sustainable is the industry.

Will you be happy to use your own product

How passionate is the team behind the idea

Is the idea just a technology or you can build a business out of it.

What other questions did you answer before you started your company.

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