The internet or worldwide web has changed life as we know it. Never before have so many people have been in a position to launch a business. Anyone with a computer can own a company, but the question is how much success will it have? Not every seed planted will become a beautiful plant. The days no longer exist where you can set up a website and sit back while people come to you. In today’s time, there’s so much more involved.
Running a business requires commitment and follow through. According to a study done, 65.4 percent of Americans say they’ve considered business ownership, but never moved forward. Fear of the unknown plays a huge part in their reluctance. Getting started isn’t so much about knowing what to do; it’s more about knowing where to go. There are several companies that were developed for the sole purpose of helping small business owners get established. They can help with the legal set up, marketing, and even financing. Tons of free information can also be found online. One website that comes to mind is www.sba.gov. This site is filled with tons of valuable tools for the small business owner. Listed below are some ingredients you can add to your recipe for growth.
Develop A Solid Plan. Get a professional business and marketing plan. There a so many questions that need to answered. Who will use your products or services? How much will it cost to run your business? What type of revenue is required to maintain your current lifestyle? How will potential prospects find your business? What makes you stand out from the competition? Are you knowledgeable on your product/service?
Work Your Plan. Once you established an outline, stick to it and be consistent. Not all businesses will overnight success stories. It may take some time for your business to make a profit, but you have to be patient. Set realistic goals and if you’re not on track, take a step back to re-evaluate your plan. You may even need to seek help from a company that specializes in the growth and development of small businesses.
Network, Network, Network. Networking is really important for new businesses. Get out there and meet other small business owners. Mingle within your community; you never know where your next customer or client will come from.
Promote and Advertise Your Business. Everyone you know should be familiar with your company. You can’t expect people to buy your product or service if they’ve never heard of you. Do your homework. Find out the best places to advertise online and offline. Invest in some professional marketing material (i.e. brochures, vehicle magnets, business cards, Rackcards, etc). Just because you are a small business doesn’t mean you have to look like one.
Approximately 145,000 businesses are started each year in the United States. Studies have shown that 80% of new businesses fail within their first year. Become the minority, develop a plan and plan to succeed.