Small Businesses

Are you tired of following orders from your boss? Are your tired of making somebody rich? If you do then "Mind your Own Business"

I like the feeling of starting the business. No sleep, tired, stressed, excited but all ideas are still coming from everywhere. What else can give that feeling combination?

So what business will you start?

Ask yourself with the following questions and will surely help you decide on what will be your business is.

1. Where is your heart?
2. Where you're good at?

Do not start any business unless you've answered above questions.

According to SBA - Small Business Administration, 2/3 of Small Business survives at least 2 years and 44% survives at least 4 years. Long time ago this statistic is much better, 50% fails on its first year and 95% fails on its 5th year.

This statistic should not discourage us but bring us fire to be included in the 5% of the successful business in the word.

Following are known reasons why most business fails.

1. Starting the business for the wrong reasons

2. Poor management

3. Insufficient capital

4. Location

5. Lack of Planning

6. Over expansion

7. No Website

More of this here: Starting Small Business

Please read on my resources for much detailed discussion and tutorial on Starting Small Business

The future is uncertain, as they say. Through the years, we've witness the fluctuating economy of the world we witness a lo of people lose their jobs, the rank and file and even the big bosses alike. No one is invincible. We've seen the collapsed of the seemingly established companies and business moguls. Indeed, the security of the jobs we have cannot guaranty that we won't be affected by any economic crisis that may arise. it is in this light that many people nowadays are starting to think forward and take risk. We cannot afford to remain complacent nor trust the stars for the future. While our 8 to 5 hours word per day can give us a monthly salary, it still pays to put our entrepreneurial skills into test and start planning our small business. This may sound ambitious but right planning will save us from the pain of failing.

Prior to starting our small business, we need to take time and reflect on these questions:
* To get started,what do I need and am I ready for this?
* How and where can I get advice and support?
* What is my interest? What are the things I love doing best?
* What type of business should I consider?

First and foremost, you need to have an honest assessment of your strengths and weaknesses. How far are your willing to take the risk? And are you willing to invest a part of you income or savings, your time and skills into this endeavor? conceiving small business plans are no that easy, much more on executing them. You may have struggles along the way but do not despair because there are also learning as you progress.Think of the reward and in the long run, reflect on your would-be contributions to your community and on a larger scale, to the country's economy.

As you go along the way and do your research, you will find that there are numerous government grants to finance your small business. There are myriad of small business government grants which you can avail of. There are units in the government that are ready to assist your small business and can help you execute small business ideas. You may also qualify for a government loan to finance your small business. Your small business resources may come initially from loans yet this fact is inevitable in any business endeavor. As the basic accounting equation goes, "Assets is equal to Liabilities Plus Capital". While you may be investing your own money, to sustain the business, especially during its initial stage, you also need to acquire loans to sustain it and eventually expand it.

In starting a small business, the question on marketing it is also crucial. For starters, you need to consider your niche. From this you need to take into account the proximity of your business location to your "would-be" customers. Marketing a small business is having a myopic view of your small business and the factors surrounding it - your competitors, customers, industries, legal restrictions and pricing, among others.

Just a thought of starting a small business may sound too grand for you yet if you just change your paradigm and see this on the right perspective, you're on your way to starting your own business.