Small Business Reading Room

Friday, January 28, 2005

Finding Small Business Success

You want to be an entrepreneur, but are you really ready?

I can't tell you how many people I talk to each week that have a grand idea for the next big thing. But let's face it; a good idea is only one part of a larger picture.

So how do you find small business success?

Try this- think beyond big, think practical.

In USA Today, I found this article by columnist Rhonda Abrams that outlines some practical considerations to succeeding in your first business, such as:

Low Start Up Costs

Low Overhead

Proven Product or Service

Establishing Market Channels

Simple Sale Structure

A Niche

These things may seem obvious, but sometimes it is the obvious things that we tend overlook.

Spend some time thinking about the above issues when you are in your business planning stage. After all if you start off right and lay down the proper foundation for your business, chances are better that you'll stick around for a while.

posted by Unknown at 8:39 AM - permalink 3 comments

3 Comments:

The odds sure aren't with the small business enterpreneur !

Anything that helps is well worth the read. I found that people who just want to "do it" are well served by a book called "The Art of the Start" by Guy Kawasaki. Guy is a Silicon Valley venture capitalist and he says, "just do it".

By Larry, at 4:55 PM

Guy Kawasaki is a no-nonsense kind of guy. But, I think that some planning is essential. Too many people jump into business without really looking around.

By William Slawski, at 12:13 AM

William, You are right.
There is a balance between being prepared and having the initiative to get something going. I tend towards the just do it side of the equation.

By Larry, at 5:10 PM