You need more than money to start a business

I’ve read countless lists what you need to do to start your business.   But many are missing the mark.

Some start with the technical questions like:

• Name your business (Have you ever tried to come up with a good business name?  That could take months.)
• Determine your legal structure (Isn’t it the one that lets me cash the first check?)
• Who is your target market? (Ummm isn’t it everyone?  No, my friend.  Read more on other my other post about your target market)

Others try to go in-depth and ask questions about your entrepreneurial personality like:

• Are you a risk taker?
• Do you bounce back well from adversity?
• Are you an optimist?

These are good questions.  But they don’t dig deep enough.  Because your tendency will be to answer YES to all of them!!!

You need questions that dig into how you handle ALL of the aspects of your life.  And how it relates to your start-up.

Let me share a big one that you never see on the lists:

1. What is the current state of your physical health?  How well do you maintain it? 

Anyone who’s read anything on entrepreneurship knows you are going to be putting in a ton of hours.  So it begs to differ that you need to be ready to handle the late hours and long weekends that will inevitably be involved.  Do you eat balanced meals?  Do you exercise regularly? How well would you rate yourself across the board on strength, stamina AND flexibility when it comes to your health?

Be honest – on a scale of 1-10, where do you currently stand?

I’m not suggesting you need to be in the  condition of an Olympic athlete.  But I don’t find it a coincidence that alot of the top entrepreneurs I see speaking at events and conferences appear to be in shape and eat pretty healthy when walking down the buffet line.

Take a moment and assess yourself.  Where do you stand?

For myself, I know I need to back off the sixth food group – sweets.  So clearly I have no judgment if you are not a perfect 10 in this category.

But consider this question and your current state.  Do you need to hire a trainer to ensure you stay consistent with your fitness regime?  Perhaps you might consider training for a mini marathon or some other contest that ensures you are committed.

It’s also a good time to assess the foods you are eating.  And we know the proper plan – eat healthy and avoid fat, a ton of carbs, grease, etc.

Just do the right thing.  You’ll be surprised at how easy it will be to breeze through those late night marathons.