why Start Your Own Business.The 4 Key Questions
why Start Your Own Business.The 4 Key Questions.Millions of people answer “yes” to this question every year, and every year this answer will cost them money, time, trust and pain. The Small Business Administration estimates that 580,900 new small businesses open every year, and this number does not include the small sole proprietorships that emerge every day.
The two key factors for the survival and development of an enterprise are: the education level of the owner and the reason why the owner started his own business in the first place. In this high-stakes game, the winner, not the loser? why Start Your Own Business?The 4 Key Questions. The answer is in you. You need to ask yourself four key questions to determine whether your own small business can survive and succeed.
You are ready to go from employee (or student, or any other abbreviation currently applicable to you) to boss.You can now decide everything from office supplies to product lines.
Total control is one of the driving forces for many people to start their own businesses, but it is also one of the elements that drives new entrepreneurs crazy. In the beginning, you will make endless decisions and new questions will pop up every day.
More importantly, you need to remember that in a small business, you will wear a lot of hats. Start with one or more employees, and each of you will hold multiple positions in the new company.
Moreover, if you are holding a solo exhibition or solo exhibition, then you will play all roles, from clerk to service staff to sales staff and CEO.
Can you transition from one task to another, and from one role to another in this way? Are you ready to make these changes? Are you also ready for family and friends to deal with this change in attitude? Your life will change, which is understandable to a large extent, and this change will have a positive or negative impact on your family life and social activities.
When you have your friends and family to help you with this task, it will be much easier. Where is your niche Have you determined your niche? One of the reasons why many companies fail is because they cannot focus on their target audience. They are a big discount chain, so you can sell anything from peanuts to wallpaper, but this type of business requires huge resources that small businesses simply don’t have.
However, small businesses are looking for a different way to dominate the market (last year, they created more than 50% of private GDP). Knowing your niche market will help you better find, locate, retain and provide customers with the best products and services.
Your best chance is not only to survive in a competitive market, but also to excel. What is your plan of action? Another key factor for business survival and ultimate success is the amount of planning work that needs to be done before opening the physical or electronic door.
You need to determine whether your business is based on the Internet, or whether it contains more traditional models. Do you plan to work full-time or part-time in your new business? Do you want to hire an assistant or do you want to go alone?
Have you written (or at least outlined) your business plan? Daydreaming, thinking and planning can save you a lot of trouble and waste when things get busy in the future and problems arise.
The plan can also help you focus and balance costs and time. call? Regardless of your entrepreneurial background, you will sometimes need help. You need support, advice, tools or information, or all of the above. One of the scariest and most beautiful aspects. Growth is about taking you to places you never dreamed of.
No matter how much planning and experience you bring to the new CEO, unexpected things will happen. How will you deal with it? It is important to understand that no business is an island. This is not a lack of asking for help. His business closed because he didn’t get the help he needed. The best way to get timely help is to use a support system when setting up a business.
This means that you already have a pre-prepared list of available resources and can quickly connect to it in an emergency. In today’s world, no matter what your business model is, there are many resources available for you to choose from.
This includes: ~ Publications (newsletters, magazines, books)~ People (professional consultants, mentors, teachers, consultants) ~ networks (organizations and forums in your niche and genre)
