7 Questions To Ask Yourself Before Starting A Business

#5 will surprise you

Vadim Lidich
6 min readJun 3, 2019

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So, you want to start a new business in 2019? Congrats, you’re about to join 25 million other businesses that compete in the US alone.

Oh, and did I mention that 95% of small businesses fail within their first 5 years in existence?

With this gloomy statistics in mind, you should have a pretty darn good reason to challenge the odds and embark on the entrepreneurial journey.

Photo by Jaromír Kavan on Unsplash

Unfortunately, many of us entrepreneurs get into it for all the wrong reasons: we watched “Social Network”, we admire Elon Musk, we want to live the #entrepreneurlife.

If these are your reasons, please press Alt + F4 and proceed to do something else with your life.

In Elon Musk’s own words, “Entrepreneurship is hard. It’s like eating glass and staring into the abyss.”. It’s not about the hustle. It's not about staying up all night, consuming ridiculous amounts of RedBull and coding like mad (been there, done that).

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Vadim Lidich

Serial Entrepreneur, Product Architect, Advisor & Investor. Democratizing Access to Justice at coSquare.co Treating Medium like Twitter with no character limit.