Small Business Help: Key Elements of Starting a Business!

A great and idea and money won't get your business off the ground. Read about the other things you need.

Most folks think that all it takes to run a business is money and an office or storefront. That is not true.

You could have invented the next best thing or have the best service to offer and still not be successful at starting, running or growing a small business. It takes more than money.

I have seen many friends over the years who have tried to run businesses and have failed. There are leaders in business and there are followers. The leaders have entrepreneurial qualities that will help them become successful.

Each business has its own set of issues to deal with – both good and bad – and you must possess the right skills to succeed in your particular business.

You could be an excellent and persuasive salesperson but lack the skills to handle the seemingly mundane day-to-day skills needed to keep a business running.

You need to assess what your particular business needs are and then look honestly at your own strengths and weaknesses and decide what you need to do.

Most businesses require that you be willing to sacrifice money and time. Everyone else must be paid before you are and you must work long and hard to get and stay ahead.

You must understand what it takes to run a business and the responsibilities involved.

You really need to have goals. Set one small goal to achieve at a time if the thought of goal setting scares you. The people whose only goal is to make millions of dollars from their product are not being realistic.

You must have the skills to deal with people on all levels – from decision-makers at large corporations to public officials to suppliers and subordinates.

You must have leadership skills because on a daily basis you will be called upon to make many decisions. Some days it seems everyone needs you to solve something.

You must be organized enough to keep track of all the details of a job, be able to prioritize and get things done.

You must be smart enough to anticipate problems and come up with creative solutions.

You must be able to manage all the elements of a small business.

You really must have business experience to be able to start a business. There have been a few stories where people were able to start a successful business with no experience and little money but those cases are really few and far between. You have to show a track record to people who will finance your operation.

Before you take the big step of going out on your own, think about the impact your decision will have on the overall quality of your life. Have you thought about all the perks you will be giving up like health insurance, the gym and family vacations?

If having no extra money or time will become a hardship after a few months, then maybe you shouldn’t start until you have a year’s salary in the bank to tide you over. Better safe than sorry!

Article – Copyright 2002 Stanley I. Mason. Syndicated by Paradigm News, Inc.

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