3 Questions that Entrepreneurs Should Consider
Before starting your own business, Naveen Jain, CEO of InfoSpace, raised three questions that entrepreneurs should consider. With today’s highly competitive market, start-up entrepreneurs should know how to position themselves.
Here are the following questions that will be helpful for entrepreneurs to optimize their business ideas:
- Why This?
Asking yourself ‘why this’ will help you assess if your products or services will drive impact and significance to the world. If the purpose of your business is to address social problems, it is a great sign that the world needs you.
2. Why Now?
According to Naveen Jain, answering the question ‘why now?’ will help you identify if your products and services are beneficial in today’s issues and problems.
This question will also help you identify if you have a unique product or other businesses obtain the same ideas as yours. Having said that, this will help you generate how can your business be valued by your customers.
3. Why Me?
‘Why me’ makes you realize who are your target customers. As entrepreneurs, you should need to know why your customers should buy your products and services.
These three questions are made not only for entrepreneurs but also for people who would like to venture new experiences in life. Naveen Jain emphasized that individuals should know how to generate questions for your business to find the optimal answers rather than looking for solutions but unaware of what type of problems to be resolved.