BUS 6140: Capstone - Entrepreneurial Focus
Module 1: Startup Questions Worksheet
Column 1
20 Questions
1. What Kind Of Business Should I Start?
2. Can I Operate My Business From Home?
3. How Much Money Do I Need?
4. How Do I Pick A Location?
5. Who Will My Customer Base Be?
Startup Questions Worksheet
Column 2 Column 3
Your Answer What Research is Needed for Me to
Use complete sentences. Answer the Question?
List sources that can help you develop an
answer.
I am interested in the distribution of medical
equipment business.
YES! I can operate my business from home
I will need NGN50 million
I will consider the following in chosen a
location for my business:
 Proximity to ports for importation and
logistics
 Accessibility to healthcare facilities
 Infrastructure availability and quality
 Level of competition and
 Potential for business expansion in the
chosen location
My customer base will primarily include:
 Hospitals (public/Private)
 Clinics
 Medical laboratories
 Other healthcare providers
 Diagnostic centers
 BUS 6140: Capstone - Entrepreneurial Focus
Module 1: Startup Questions Worksheet
6. Should I Write My Own Business Plan?
7. Am I Better Off Buying A Franchise Or
Starting A New Company?
8. Should I Start One Company Or Several?
9. When Can I Expect To Be Profitable?
10. Where Can I Obtain Financing?
 Faith based health facilities and
 Specialized healthcare institutions
Yes, I should write my own business plan
because:
 It provides a comprehensive
understanding of my business concept
and market dynamics.
 It allows me to outline my goals,
strategies, and operational details.
 It serves as a roadmap for my business's
growth.
 It communicates my vision and
objectives effectively to potential
investors and stakeholders.
 It encourages strategic thinking and
helps me anticipate challenges and
opportunities in advance.
I am starting a new company
I am starting with one company
I can expect to be profitable within 3 years of
starting the business
I can obtain financing from various sources,
including:
 Banks and financial institutions
 Angel investors
 Personal savings or family and friends
 BUS 6140: Capstone - Entrepreneurial Focus
Module 1: Startup Questions Worksheet
11. Am I Required To Have A License To Start
My Business?
12. What Setbacks Should I Anticipate?
13. What Kind Of Competition Will I Face?
14. Is My Product Or Service Valuable?
15. Who Will Help Me?
NO license is required to start the business.
I should anticipate the following setbacks:
 Regulatory hurdles and compliance
challenges
 Supply chain disruptions or delays.
 Intense competition in the market
 Fluctuations in currency exchange rates.
 Technological issues or equipment
malfunctions
 Difficulty in accessing financing or
investment opportunities
I will likely face competition from various
sources, including:
 Established medical equipment
suppliers.
 Other distributors or channel Partners in
the healthcare industry
 Online marketplaces selling medical
equipment.
 Local manufacturers offering
competitive products.
 International companies with a presence
in the market
Yes, my product as well as service is valuable,
particularly in the healthcare industry where
medical equipment plays a critical role in
patient care and treatment.
All I need is financial assistance.
 BUS 6140: Capstone - Entrepreneurial Focus
Module 1: Startup Questions Worksheet

16. How Soon Is Too Soon To Make Radical 8 – 12 months is too soon to make radical
Changes If I Struggle At First? changes.

17. Is It A Good Idea To Finance Out Of Pocket? Yes, financing out of pocket can be a viable
option, especially if I have sufficient personal
funds available.

18. How Should I Pay Myself? Consulting with a financial advisor or

accountant can help me determine the most
suitable payment method based on my
circumstances.

19. How Will I Attract Talent? By capitalizing on my experience and industry

knowledge, I can effectively position my
business as an attractive destination for top
talent in the field.

20. What If I Fail? I will start all over.