Starting a small business has proven to be the answer to many financial woes. That is because in these times of economic slowdown many peoples’ lives are being turned upside down due to the downsizing, and even the total shutdown of many Companies. Many people find themselves in the unenviable position of having nothing to fall back on after their jobs are gone. To survive they need to come up with innovative ideas to find jobs or create alternative sources of income.
Finding other employment, however, may be a temporary solution since there are no guarantees that the jobs that are available these days will be secure. So finding another job, more than likely one that is not as good as the one had before, could be another heartbreak waiting to happen, When one considers that the competition for new jobs increases as more people are laid off and enters the job market, it is no wonder that frustration and hopelessness abound.
One very good option is starting some form of small business. As a matter of fact I personally think that this is the best way to go since the financial rewards, as well as the personal sense of achievement and satisfaction, are second to none. Yes, there are some challenges associated with building a successful business from scratch. However, when one considers the history of successful businesses it is obvious that anyone, no matter their circumstances, can do exceptionally well if they follow a few simple guidelines.
The first is mindset. How one thinks is very important in the development of any venture. An optimistically thinking person will see problems as challenges to overcome rather than obstacles to halt progress. There are many books that help in the development of success thinking. They can be found in any bookstore with a well laid out self-development section.
Once the decision is made to start, however, many are left wondering what to do next. Here are five steps to help develop a successful small business.
When the decision is made to start a venture, the next problem faced is deciding what to market. This can be as simple as determining what excites you, what frustrates you, what you think should be easier to access, what service is required in your neighborhood, or a myriad of other such questions. Even a simple idea like using your lawnmower to cut your neighbors’ lawns can develop into a thriving landscaping business.
Funding the venture may be the next challenge that will have to be overcome when developing a small business. There are lots of institutions out there that offer soft loans for small business start-ups. If accessing these are not possible for some reason or the other, then selling your ‘unneeded’ stuff from around the house may be the way to go. It is amazing how much can be raised by utilizing eBay, Craigslist or even a simple garage sale.
Now that the venture is funded and running, the next important aspect is customer satisfaction. This is the life-blood of any small business. If the customers are not happy there will be no repeat business and no referrals, signaling the beginning of the end of the adventure.
Finally, delayed gratification must be practiced. As the profits come in a significant portion must be reinvested back into business to finance such things as equipment and advertisement. Promotion can be as simple as printing low-cost calling cards and bumper stickers. Always remember, if you develop your business then your business will develop you.
Of course developing a small business may not be as simple as it is made out to be here but if the burning desire to succeed is channeled positively, then anything is possible. Always remember that a winner never quits and a quitter never wins. Stay the course and develop your small business and I promise you will never regret it.…