Starting a business can be exciting as well as scary. Jason Nazar, a contributor to Forbes’ Entrepreneur magazine shares some insight on the highs and lows for entrepreneurs and small businesses in the US:
- The United States has close to 28 million small businesses with 22 million being a one person entity.
- Over 50% of those working are employed by a small business.
- Fifty-two percent of all small businesses are home-based.
- 543,000 new businesses get started each month.
- More small businesses shut down than startup each month.
This is a lot to think about, so fear is understandable. Would you like to increase the odds that your business will survive? Start out answering some tough questions.
- Do you have a talent, product, service or ability that can make money for you and your family?
- Are you making money with it now?
- Is your business capable of making money in the future?
- Who are your ideal customers/clients?
If you can answer the questions listed above great; it is a good start. Believe me there are many more questions you should consider answering before you get too far down the road, but the key question is, “are you willing to do what it takes to sustain your business”?
Most determined entrepreneurs would think this question is a no-brainer, but in reality, this question can and should be the deal breaker. You could very well make the best fried chicken in your neighborhood, but that does not mean you should not open a business selling those chicken dinners. Competition aside, you must possess what it takes to launch and maintain a business in today’s economy.
It takes more than the ability to make great fried chicken to open your own business. You will need to know how to design, launch and run a new business; how to keep the books, order inventory, manage deliveries, provide excellent customer service and plan. Distributing flyers or relying on word of mouth to market a new business venture is no longer enough.
In this technological age some have decided not to get too involved in Facebook, Twitter and other forms of social media. Instead they still are operating using old standby methods; but those methods no longer work as effectively as they did before the social media wave.
Remember you could be your only employee. You will wear all of the hats and it is in your best interest to learn, understand and capitalize on the marketing abilities of these mediums. Social media platforms make it possible to reach the masses and can help in building a following online which in turn will generate popularity for your business. Entrepreneurs are lifelong students. Did you know that there is a Dummies book for almost everything you want to learn? Dummies books are available on numerous topics from entrepreneurship, handling your business accounting books, Facebook to Twitter as well as how to use them to make your business visible. Sure, you might feel awkward (or like a dummy) when you pick them up but be grateful for the simple instructions and tools to help you get the word out and get started with your business finances or marketing ventures.
Don’t be discouraged! Just recognize that your having a talent, a product, service or ability is just the beginning. Learning is just a part of the story. Consider this… barter or be willing to hire. Yes there is hope for your business! You have got what it takes but be willing to barter with others who have the know how to navigate the social media platforms you need to engage. There are many people who would love to help you and promote their social media skills at the same time.
Don’t give up! Remember the business you are to bring to the world is necessary and important. YOU are the only one who can do it. So…”GET BUSY!!!”
Consider this, Sunshine Enterprises offers a multi-week program that helps you with the must-haves for a successful business. Click here to learn more.
Gwen Hill is an author, speaker and seminar leader helping people to create businesses and design an inviting work culture that attracts more clients and builds more productive teams that you ever thought possible.