Do you have the next big idea? It’s a deceptively simple question most people who think about starting a business must ask themselves before actually making the leap. Starting a business isn’t easy – and it could be the biggest financial and emotional commitment of your life. Be sure, at a very high level, you’ve addressed some key factors first.

We’ve determined several basic questions to help you decide if your idea has potential. There is no right or wrong when it comes to a business idea, but you do need to be sure you’re as prepared as you can before you commit to business ownership.

Answer the following questions as honestly and objectively as possible.