Ready to Launch?

Dreaming of opening your own brick-and-mortar store, restaurant, service business, or other local venture? That's fantastic! But turning that dream into a thriving reality takes more than just passion. This short quiz will help you pinpoint your strengths and identify areas where you might need to focus before taking the leap. Let's see if you're truly ready to launch!

Have you conducted thorough research on your target market in your local area? *

Yes, I have detailed data on my ideal customer.

I've done some research, but it could be more comprehensive.

I haven't done much market research yet.

Have you identified a clear gap or need in the local market that your business will fill? *

Yes, I know exactly what problem I solve/need I fill.

I have an idea, but it needs further validation.

I'm not entirely sure how my business will stand out.

Have you talked to potential customers in your area to gauge their interest in your business idea? *

Yes, I have received positive feedback.

I have talked to a few people.

No, I haven't done this yet.

Do you have a detailed business plan with projected startup costs and revenue? *

Yes, I have a comprehensive financial plan.

I have a basic plan, but it needs more detail.

I haven't created a formal business plan yet.

Do you have secured funding or a clear plan for how you will finance your business? *

Yes, I have secured funding or have a very solid plan.

I'm exploring funding options.

I haven't addressed funding yet.

Do you have a financial safety net in place, either cash savings or another source of income to get you through until your business is securely generating sufficient income? *

Yes, I (or my household) have at least modest cash reserves and/or another income source.

I have some resources, but I am concerned about keeping up with everything.

I am not sure I have enough to get by.

Do you have a realistic understanding of your monthly operating expenses? *

Yes, I have a detailed budget.

I have a general idea.

No, I have not figured this out yet.

Have you identified a suitable location for your business? *

Yes, I have secured a location or have a very specific plan.

I'm exploring potential locations.

I haven't started seriously looking for a location.

Do you have a plan for hiring and managing staff (if applicable)? *

Yes, I have a clear hiring and training plan.

I've thought about it, but need to develop a formal plan.

I haven't considered staffing yet.

I only plan to employ myself.

Do you have a solid understanding of the legal and regulatory requirements for your type of business in your area? *

Yes, I have researched and understand all requirements.

I have started researching these requirements.

No, I have not looked into legal requirements.

Are you comfortable with the risks and uncertainties that come with starting a business? *

Yes, I'm prepared for the challenges.

I'm somewhat prepared, but have some concerns.

I'm nervous about the risks.

When faced with challenges or setbacks, I: *

re-evaluate, adapt, and try a different approach.

get stuck in a loop of worry, replaying the failure and struggling to see a way forward.

feel like giving up entirely, convinced that it's pointless to keep trying.

Do you have a strong support system (mentors, family, friends) to help you through the process?

Yes, I have a strong support network.

I have some support.

I do not have a strong support network.

See your results and recommendations

First Name *

Email *