So even though right this moment, you may not need to borrow a dime from one of your local bankers. But if the need to where to quickly arise, entrepreneur, here’s the $64,000 dollar question. If you were your potential banker, would you loan your business money?
Depending on your honest answer; this post is going to pose seven extremely critical questions. And if you’re in the serious entrepreneurs category, you’d better have some really good answers to these questions.
So here’s the deal; if you’re answers to these seven extremely critical questions, were going to be at least 70% or more of the deciding factor, as to whether you and your banker of choice ever did business again!
Would your honest answers to these questions be satisfactory (in your bankers eyes?) or would they just be rather marginal at best? let’s take a look at and you be the ultimate judge.
Serious Entrepreneurs Have Really Good Answers To The Following Seven Extremely Critical Questions!
1.) Critical question # one: Entrepreneur (honestly!) how much time, effort and money do you invest in any type of quality personal development products or services per week, month or year?
Remember, your banker expects honest answers!
2.) Critical question # two: If you were your banker, would you loan your business money? If so, why?
3.) Critical question # three: How much of your current profit percentage do you immediately re-invest in your business?
4.) Critical question # four: Why should a disgruntled customer and or client give your business, product or service another try, especially if the original reason they left, was your fault?
5.) Critical question # five: If your banker could survey at least 20% or more of your current customer/client base, what would your customers say is the # one reason why the banker should loan you any money?
If You Were Your Baker Would You Loan Your Business Any Money?
6.) Critical question # six: If your banker spent one whole week (at least 8 hours per day!) observing you running your business and or service.
What would they discover about your current daily routine, that would convince them to loan you money?
7.) Critical question # seven:Are you currently the smartest person associated with your business and or service? And if you are or think you are. What does that say about your chances for long term success?
Ladies & gentlemen, would you not agree that these seven extremely critical questions, are a gateway into practically any small business owner and service providers DMO- daily mode of operation.
And that being said, serious entrepreneurs will most definitely have satisfactory answers to these questions! Don’t you agree?
Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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Hi Mark,
These questions really made me think! As an entrepreneur and a businesswoman for decades, I found through experience….the hard way… that I am what I think.
Yes..it took a while but with practice, I’m out there and will not stop for anything.
That video really inspired me because when we are children, we do believe we can fly on a broom, and do all this stuff. Then we question ourselves when we get older.
It’s getting back to that place of imagination, determination…that very smart child within that gives me the strength to step forward. If it doesn’t work out, I try try again!
-Donna
Donna Merrill recently posted…Thank You To Some Amazing Bloggers
Yes indeed!
We are so darn invincible when we first start out! Then we get acclimated and suddenly we
just don’t believe in ourselves quite as much as we used to!
That’s we it is so critical to get around and stay around people of like
minds and desires!
Lot an extremely good “Mastermind” group or blogging syndication network etc.
Those type of active communities keep both our belief systems, creativity and reinforces our
utmost desires and encourages us to strive to be the we can be!
Thanks as always for your awesome input and for your continuous support!Both are
greatly appreciated!
GREAT questions to think about. I am going to have to get my work journal out tonight and really go over these. LOVE it. Thanks!!
Heather recently posted…Tea Tree Oil – Is it Worth the Hype?
Awesome Heather!
So glad you found some value! And so glad to
see you back with us!
Mark,
your articles are always so deep into details I most time wonder how you can do it and how come most things that you write, I have no clue at all…
Ho, yes.. this is one of those great articles that is essential to figure out if we are entrepreneurs or not.. well, my friend.. after reading the 7 critical questions.. my answer is that I am not ready for anything like that.. it is shame, but hey, that is how it is at this moment.. so the only way is to learn how to set my self up and grow from there.
Thanks so much for your great tutorials (this is what I call them) and thanks for the video as well.. it sure drive the point 🙂
Thanks so much.
_nick
nick catricala recently posted…How do you handle conflicts in life and business?
You’re being way too modest Nic!
And way too hard on yourself my friend! In fact, I’m sure your seven questions
would far harder to answer!LOL!
Being entrepreneur is an attitude as much as anything else! As you well know!
to which I say, that you’ve definitely got what it takes and then some!
It’s been a while since you dropped by! Thanks for taking the time
to share extremely valuable insights! They’re much appreciated!
Wow these are important, but tough questions Mark – not only because the answers require business savvy but because many entrepreneurs have difficulty displacing their egos when it comes to talking about their business. I especially like #7 because I think to be successful in whatever we do we have to focus on our strengths and hire talented people to do the things we’re not so great at. Of course that’s much easier said than done for the start up, but it’s certainly something to plan for. Thanks for the inspiration!
Marquita Herald recently posted…Stepping Stones: Conformity
Awesome Marquita!
And coming from a professional that makes her living asking us (your readers) to be
as brutally honest as we can, while we’re conducting some much needed analysis!
I think I will take tiur extremely kind comment as a compliment!LOl!
And I’m with you about question # 7. It really does cut to the chase!
But hey, if it doesn’t the real world most certainly will! As always, thanks for
incredibly kind words of encouragement and for sharing your extremely valuable
real world insights!
And for your continuous support! Both are greatly appreciated!