“5 Things To Remember Before Launching Your Startup,” featured on Forbes’ website, lists considerations new investors should keep in mind before putting their business plans in motion.

  • Know what you’re getting into. Industry education is key. Make sure you know exactly what you’re getting into and as much about your industry as possible by meeting with investors, industry leaders, other business owners and consultants/advisers.
  • Make sure to question your business idea. Make sure to really take the time needed to examine your idea; and, let others also evaluate your business plan and point out any pitfalls. “Knowing what can go wrong when you’re starting out can help you fix the issue in the beginning or know how to react when it arises later,” reports Forbes.
  • Evaluate what consumers want. Figure out what people want to make sure your new business will succeed. Make sure your business is filling a need; work to prove/disprove your initial business assumptions, and make new ones.
  • Don’t overcrowd the market. Make sure you aren’t launching your new business in an area that already has a lot of similar ventures fulfilling the same need. You want to find an area with less competition so your business can stand out.
  • Fully test your business idea before moving on. Fully test out your idea before moving on to financing. And, make sure your idea will make you money, before spending money.

You can find the slideshow of important things to remember before launching your business here.