21 Feb 2008 02:01:56 | Yolanda A. Facio
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 business.
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 no
employees ·Small businesses represent 99.7% of all employer
firms ·Small businesses employ half of all private sector
employees ·44.3% of U.S. private payroll is paid by small
businesses ·60%-80% of all new job created annually are by small
businesses
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- term success.
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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About Author :
Yolanda A. Facio is an entreprenuer, consultant and author.
Principal of several traditional businesses and owner of
successful e-businesses, Yolanda's writing is based on 15 years
of "front line" experience.