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Here is a list of 20 questions on the most critical business issues. Please find the questions and their brief
descriptions beneath them.

Contents
THE MOST CRITICAL BUSINESS ISSUES.......................................................................................................2
1. Is your service or product a real business?......................................................................................2
2. Are you afraid of complex business decisions?................................................................................2
3. Are you committed to your business?.............................................................................................2
4. Can the business operate regularly in your absence?......................................................................2
5. Do you have and understand your value proposition?....................................................................2
6. Are you ambitious enough?.............................................................................................................2
7. Are you ready to take significant business risks?.............................................................................2
8. Are you expressing your business model clearly?............................................................................3
9. Do you have a competitive advantage over your competitors?......................................................3
10. Have you granted your customers all the power over your business?........................................3
11. Is your business covered by lofty lawyers?..................................................................................3
12. Are you using technology optimally?...........................................................................................3
13. Is your business surrounded by the ideal individuals?.................................................................3
14. Does your business serve the right customers?...........................................................................4
15. Are your suppliers more potent than your other business forces?..............................................4
16. Does your business have a trench around it?..............................................................................4
17. Are you contracting out the ideal projects?.................................................................................4
18. Do you measure useful things?....................................................................................................4
19. Have you aligned enticements with business goals?...................................................................4
20. Are your business assumptions still realistic?..............................................................................4
 THE MOST CRITICAL BUSINESS ISSUES
1. Is your service or product a real business?
There are minor distinctions in a product or a service being advertised. Once you have specifically
identified the type of work, your company can promote, changing your ads' focus will help you attract
clients you would not otherwise draw over. Unless that's what you'd offer, don't get lost in the
marketing catchphrase of "solution."

2. Are you afraid of complex business decisions?

It can be incorrect for a kid to create a start-up, struggle and have no shame:' I'm a kid... what would
they expect? 'Not so for the defense of someone with a proven name. This fear of guilt, primarily
because it's pointless, is pernicious. Oh, give it a break.

3. Are you committed to your business?

This is the most critical business question. In this case, you must exercise self-honesty to get a
meaningful answer from this question.

4. Can the business operate regularly in your absence?

The response should be "Yes," whether you wish to manage an increasing company or a division within
it. It ensures that you have sufficient staff and processes in place.

5. Do you have and understand your value proposition?

Every successful employee, company and the project should realize the value proposition and
understand it. In this case, the value proposition should be measurable and transparent. However, most
are demanding.

6. Are you ambitious enough?

It's quick to get overloaded by overpacked inboxes and lengthy to-do lists. There is a desire to hunker
down and concentrate on the same little.

7. Are you ready to take significant business risks?

There will be failures, whatever the risk tolerance. Expect, adapt, and carry on with them.

From small fashion firms to publicly listed behemoths, there are all sorts of business businesses. The
smaller they are, the higher the risk — in dollars, time, credibility, ego. Without making emotionally
fraught decisions or getting an ulcer, be realistic about how much you feel you can stomach.
 8. Are you expressing your business model clearly?
You need to answer this query by clarifying why consumers require the service or product you’re
offering. People don't care about your offer. Thus, make your potential clients care about what you offer
or do.

9. Do you have a competitive advantage over your competitors?

In the context of cheaper costs (Wal-Mart), superior interface (Apple), immediate satisfaction (Google),
or some other concrete gain, gaining an edge means providing higher value than your rivals do. If
someone tells you there is no competition from his business, that person is 1) ignorant, 2) weak, or 3)
crazy.

10. Have you granted your customers all the power over your business?
Despite raising $26 billion in annual sales, Delphi Automotive, the big car parts maker, went bankrupt in
2005. A big reason: it represented a few big clients who had so much leverage that every passing year,
they might claim price cuts. Delphi has since reorganized, and last November went live.

11. Is your business covered by lofty lawyers?

Enforce compliance: A lawyer will help ensure that under federal, state, and municipal rules, your
company opens and runs. Reduce risk: Doing business exposes you to risks. However, a business advisor
can assist you in setting up a collection of protocols that can limit the risks.

12. Are you using technology optimally?

It's pretty simple to create a tidy, intuitive website or smartphone app; it's still complicated to get
people to do what you're doing when they get there.

You have to run experiments to get the best out of technology.

13. Is your business surrounded by the ideal individuals?

I can be tricked; other members can be deceived, but it's tough to trick an entire squad. Much of the
time, if you have group interviews, they can sniff out the toxic ... Or if they're only trying to address the
"correct" question to win the job.

Cultivating outside consultants whose viewpoints you admire and who are not afraid to share them
often means getting the right people — knowing you can listen.
 14. Does your business serve the right customers?
The best consumers aren't always the paying type. Some are better matches than most, as our staff and
dealers. At the detriment of several, seeking to make a few demanding clients happy is a sure way to
leak cash.

15. Are your suppliers more potent than your other business forces?
The more you focus on any one seller, the harder the terms he will ultimately extract, as with sellers.

16. Does your business have a trench around it?

If you are competent enough to spy on a lucrative market opportunity, be assured that rivalry is not far
away. Maybe a replacement technology would come along instead of a direct rival (imagine what digital
video did to Kodak). Some moats are more problematic to cross than others — patented inventions, a
storied brand — but someone will still find a way to do the job quicker, cheaper, and more manageable.

17. Are you contracting out the ideal projects?

Which contract form is acceptable where time is limited? It's Time & Contracts for Material. This is
sometimes used where there is no known/ prescribed contractual provision (scope). This contract is
often ideal for the acquisition/hiring of specialists, involving project personnel for a specified duration.

18. Do you measure useful things?

Useful success metrics may concentrate on value-creating programs and processes which be virtually
evaluated by result indicators.

19. Have you aligned enticements with business goals?

You eventually get what you actually encourage, for good or bad. If you want repeat sales, tie incentive
pays to types of customer loyalty. Don't press homeowners for evidence of sales if you plan to crank up
mortgage-processing rates.

The right formula is always fair pay for good jobs.

20. Are your business assumptions still realistic?

Questioning key conclusions and posing hard questions may help ensure a profitable venture while
drafting the business plan.