Three entrepreneurs on what you need to know about starting and running a business
The thought of starting your own company can be both exciting and intimidating. You have an idea for a product that you think could be revolutionary, but aren't necessarily sure where to begin to move things forward. What are some of the most important questions you should be asking yourself before you establish your new company?
We ask three founders for their insight. This is what they had to say.
See also: Zilingo Co-Founder Ankiti Bose On Pivots, Resilience And “Pathological” Optimism
Find out what you want to gain from starting the company
The first question entrepreneurs should ask themselves is pretty simple: what do you hope to achieve from building your own business? “Figure out if it is money, status, self-worth, [creating] impact or something else,” says John Tan, who founded edtech companies Doyobi and Saturday Kids to teach students in Singapore skills such as coding, design thinking and digital art.
He also adds that if your passions align with your professional goals, it could make your startup journey smoother and more enjoyable. “You don’t have to build your business around something you care deeply about, but it’ll be much easier if you do.”