35 Questions to Ask Before Launching a Startup
Market Research & Validation
- Is there a clear market need for my product or service?
- Assess whether the problem you’re solving exists and if it’s substantial enough to drive demand.
- Who is my target audience?
- Identify who will benefit from your product or service and understand their demographics, preferences, and behaviors.
- What is my unique value proposition?
- Define what makes your product or service different from existing solutions in the market.
- What is the size of my target market?
- Estimate the size of your market to determine the potential for growth and profitability.
- Have I tested my idea with potential customers?
- Validate your idea through surveys, focus groups, or beta testing to get feedback from your target audience.
Business Model & Strategy
- What is my business model?
- Decide how you will make money—whether it’s through direct sales, subscriptions, freemium models, or something else.
- What are my revenue streams?
- Identify the various ways your startup will generate income.
- How will I price my product or service?
- Determine pricing strategies based on market research, competition, and customer willingness to pay.
- What are my short-term and long-term goals?
- Set clear, measurable objectives to guide your business in both the immediate and distant future.
- What is my go-to-market strategy?
- Plan how you will enter the market, reach customers, and gain initial traction.
Competition & Differentiation
- Who are my competitors?
- Analyze both direct and indirect competitors and identify their strengths and weaknesses.
- How will I differentiate my business from competitors?
- Determine your unique selling points (USPs) that will make you stand out in the market.
- What are the barriers to entry in my industry?
- Identify any regulatory, financial, or competitive challenges that might prevent new entrants.
Finances & Funding
- How much capital do I need to launch my startup?
- Estimate your startup costs, including product development, marketing, and operational expenses.
- What are my funding options?
- Consider bootstrapping, venture capital, angel investors, crowdfunding, or loans to finance your business.
- What is my financial plan for the first year?
- Develop a clear financial plan with projections for revenue, expenses, and cash flow.
- How will I manage my business’s cash flow?
- Plan how to monitor and control cash flow to ensure the business stays financially healthy.
- What is my break-even point?
- Determine how long it will take for your startup to cover its expenses and start generating profit.
Operations & Logistics
- What legal structure will my startup have?
- Choose between LLC, corporation, sole proprietorship, or other business structures based on liability and tax considerations.
- What are the legal requirements for starting my business?
- Research licenses, permits, and regulations required in your industry and location.
- What is my supply chain strategy?
- Plan how you will source materials, manage inventory, and handle logistics to ensure smooth operations.
- What tools and technology will I need to operate my business?
- Decide on the software, platforms, and technologies you’ll use for operations, marketing, and communication.
- What will my team structure look like?
- Define the roles and responsibilities of each team member and what key hires you need to make.
Marketing & Sales
- How will I acquire customers?
- Develop a strategy for customer acquisition, including digital marketing, partnerships, and outreach.
- What are the most effective channels to reach my target audience?
- Identify where your potential customers spend their time—social media, blogs, search engines, etc.
- How will I track and measure marketing efforts?
- Set up KPIs to track the effectiveness of your marketing strategies, such as customer acquisition cost (CAC) and lifetime value (LTV).
- What is my customer retention strategy?
- Plan how to keep your customers engaged, loyal, and coming back for more.
- How will I build my brand identity?
- Develop a brand voice, logo, and overall identity that resonates with your target market.
Team & Leadership
- What skills and expertise does my team need?
- Identify the key skills required to build your product, scale your business, and handle various operational tasks.
- How will I build and maintain a strong company culture?
- Define the values and principles that will guide your team’s behavior and decision-making.
- Do I have a strong support network of mentors and advisors?
- Seek advice from experienced entrepreneurs, investors, and industry experts who can guide you on your journey.
Risk Management & Scaling
- What are the biggest risks for my startup?
- Identify potential risks—financial, operational, market-related—and plan for how to mitigate them.
- What’s my strategy for dealing with failure or setbacks?
- Plan how you will handle unexpected challenges, pivot if necessary, and stay resilient.
- How will I scale my business?
- Consider how you’ll scale operations, marketing, and product development as demand increases.
- How will I measure success?
- Define clear metrics of success that will guide decision-making and growth, such as profitability, customer satisfaction, and market share.
