3 Things You Need to Know Before Starting Your Business

By Entrepreneur Staff Jul 19, 2016

One of the worst mistakes an entrepreneur can make is getting into a new business without adequate preparation and understanding. It can be easy to get roped into a new venture with little knowledge of what it will entail, but asking yourself some basic questions beforehand will help you avoid unexpected difficulties or prolonged failure.

In this video, Entrepreneur Network partner and Trade Empowered CEO Akil Stokes lists the top three things to establish before getting involved, including startup costs, reoccuring expenses and a timeline to which you should limit yourself.

Click play to hear how Stokes teetered on the verge of failure before discovering these key steps.

Watch more videos from Trade Empowered on their YouTube channel here.

Related: How to Deal With a Bad Trading Day

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical and provides partners with distribution on Entrepreneur.com as well as our apps on Amazon Fire, Roku and Apple TV.

Click here to become a part of this growing video network.

One of the worst mistakes an entrepreneur can make is getting into a new business without adequate preparation and understanding. It can be easy to get roped into a new venture with little knowledge of what it will entail, but asking yourself some basic questions beforehand will help you avoid unexpected difficulties or prolonged failure.

In this video, Entrepreneur Network partner and Trade Empowered CEO Akil Stokes lists the top three things to establish before getting involved, including startup costs, reoccuring expenses and a timeline to which you should limit yourself.

Click play to hear how Stokes teetered on the verge of failure before discovering these key steps.

Watch more videos from Trade Empowered on their YouTube channel here.

Related: How to Deal With a Bad Trading Day

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical and provides partners with distribution on Entrepreneur.com as well as our apps on Amazon Fire, Roku and Apple TV.

Click here to become a part of this growing video network.

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Entrepreneur Staff

Editor at Entrepreneur Media, LLC
Entrepreneur Staff
For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.

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