How to Get Started with your Small Business
According to the Office Advocacy research on Small Businesses, new establishments have 50-50 survival rate in the business industry. They concluded that only half of all the newly-established small businesses will still be operating after five years.
But that doesn’t seem to stop entrepreneurs from venturing into the business world.
Bill Morland, the chairman of Orange County chapter of Score stated that starting a business is not that hard, but the real business begins when you start selling your products.
Specialists say that in order for you to successfully sell your products, you need to have the knowledge, proper planning and the appropriate cash flow. For small businesses, it is never easy to lay that groundwork.
So how do you start?
First, you need to do a lot of research. Your business degree alone does not guarantee your success. There is more work needed to be done. Take the Small Business Administration website for example. Their site will give you all the details and important characteristics of a small business. They also offer assistance for newly-established businesses.
Your research will help you learn about the techniques, tools, strategies and everything that will make your start-up a success.
Gillian Murphy, the director of San Joaquin Delta College Small Business Development Center says that understanding is the key to becoming a thriving entrepreneur. Ms. Murphy teaches her students how to balance their head with their hearts in preparation for their chosen career. According to Murphy, the products, date of opening and the season affects the success of a business. Everything needs to be perfect.
There are so many sources where you can get information and tips on how to properly start a small business. It is important that you first gather all the knowledge you may need and all the experiences on business that you may use for your own establishment.
Find out how you can sell your products. If you are to establish a flower shop, of course you cannot open it during the winter season. Spring may be a good time to do the opening when flowers are in full bloom.
All those simple details need to be understood first. Get a mentor – maybe someone who is already successful in the business industry and who was once like you; building their own small businesses.
You will then realize how important it is to have someone guiding you as you venture on with your career.
Small businesses thrive not just because they have the money to establish it. Apart from the money itself, they also invest a lot of knowledge and understanding on how businesses work.
Get more training and experience. Learn the dos and don’ts of selling your products. Ask advice from big time entrepreneurs. There are so many sources – places and people to where you can get helpful information.
Remember, not everyone thrives in the business world especially now with the current economy. You need to put in more effort in gathering knowledge on how you can actually be successful in the business industry.