3 Things You Need to Know Before Starting Your Business Entrepreneur Network partner Akil Stokes of Trade Empowered cautions entrepreneurs against diving into ventures with too little information.

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.

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Entrepreneur Staff

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