From the course: 20 Questions to Help You Start a Business

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What is your backup plan?

What is your backup plan?

From the course: 20 Questions to Help You Start a Business

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What is your backup plan?

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- You're not planning to fail when you think about your backup plan. You're just being smart, so ask yourself what is your backup plan? Too many new entrepreneurs never consider this. This is both a personal question and a business question. The answer in some cases is easy. You'll go back to work for someone else. If that's your backup plan, then be sure to keep those old relationships positive and don't burn any bridges on your way out the door. Some people, of course, don't want to go back to their old jobs. That's fine too. In that case, you might want to look to friends or colleagues who have an easy gig that you can undertake while you find what's next. In fact, many entrepreneurs keep their business going even if it's struggling, and they make ends meet by getting side work to pay the bills. The good news is that many successful ventures are started as one thing and then morphed into something else. You…

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