As a teenager I worked for my father's small business. At
18 I worked for a small video rental business owned by two
partners; there were 4 employees. At 23 I worked for an
auto body shop, the owner was from Greece; there were 8
employees. At 25 I became CEO of my family's small
business; we have 15 employees. Today, I own a 3-employee
automotive repair shop; an online business; a promotional
licensing business and I still consult for my family's
Today working in large firms with hundreds of employees or
even 50 employees is rare. Like most people I grew up
around small business and worked in small business. The
transition to a business of my own seemed a natural
progression. The time has never been better to get your
feet wet. Small business is booming.
Consider these facts from the U.S. Bureau of the Census:
? 23 million small businesses in the U.S.; 75% of which have
? Small businesses represent 99.7% of all employer firms
? Small businesses employ half of all private sector
? 44.3% of U.S. private payroll is paid by small businesses
? 60%-80% of all new job created annually are by small
Today, small business is the standard.
If you've ever dreamed of owning or starting your own
business, clearly the climate has never been better. But
making your dream come true takes a few key strategies.
First, before starting any endeavor, do your research,
education is the single most important factor to a
successful new business. If no one wants your product or if
no market exists for your service you will spin your wheels
trying to survive.
Know your market, who are they? Does your product or
service exist? If so, how can you make it better? What is
your competitive edge? What are your competitors doing?
If your service or product doesn't exist, why should it?
This is a tough question but if you cannot justify the
purpose of your product or service and the need it fills how
will you find customers?
The next step is planning. What will you need? How will
you get started? What is your first step?
When I'm looking to start a new endeavor, I jot down the
goal and then write down each and every task I can think of
that will need to be accomplished in order to achieve the
goal. Organize all those items into an Action Plan and then
get started, one step at a time.
Getting started is probably the most difficult step. We all
have fear of the unknown. You need only one ability or
skill? courage. Take the step, even if you feel like you're
falling from a tall building. I promise once you get
started, you'll wonder why you didn't do so before.
Execution is where all the research and planning pay off.
You've made your marketing plan; now just take it one step
at a time. Keep at it. Even if your first marketing tactic
works, keep at each and every one. If you send out 100
fliers and start getting customers, do not stop. Follow
through on the next mailer or article. You must continue
executing your marketing plan; this tactic will ensure long-
Clearly it has never been a better time to start a small
business. There are millions of small businesses out there;
you are not alone. Seek out others for support. Start
small to get your feet wet and start accumulating
accomplishments. With small businesses creating 50% of the
gross domestic product you can't go wrong.
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