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Become A Small Business Success Story And Take Charge Of Your Life

Jul 16, 2008
Jobs are no longer secure, even when you are working for a large corporation and have plenty of qualifications and experience. Many people think that if you are a good worker then your job will be safe. Unfortunately, this is not true. Over the past few years, hard working, loyal employees have been retrenched for a variety of different reasons, one of the most common being outsourcing to cheaper foreign labor.

As more companies choose this option, Americans (along with employees in other developed countries) are finding their employment options shrinking. Technology is also robbing workers of traditional employment as machines are able to do the same work more efficiently and at less cost. Loyalty and faithful service appear to mean absolutely nothing as corporations act with total disregard to the effects on individuals, families and ultimately society as a whole. The only way to be sure you won't be fired is to be the boss. In other words, you have to start your own business.

However, this is easier said than done. Sadly, most small businesses fail in their first year. Don't let this fact put you off from becoming your own boss, just let it be a warning that you need to establish a solid foundation in order to succeed in your own small business. The majority of small business failures can be narrowed down to some common mistakes that can be avoided.

The first big mistake is that many people just jump into small businesses with inadequate knowledge and preparation. You have to be willing to put in the time and effort to evaluate a business opportunity, market demand, competition, legal requirements, start up costs and ongoing costs before you open your doors. If you are willing to learn from other people's mistakes and study how to create a small business that has the best chance to succeed, you can be one of the minority that succeeds.

Owning your own business is a major lifestyle change, so it is normal to question whether or not it is for you. Unlike a typical nine to five job which you can do and leave until the next day, your own business can make constant demands on your time, particularly in the early years. When equipment breaks down, it is your problem. When orders cannot be delivered on time, it is your reputation on the line. You will probably have to work late and on the weekends, at least initially. It is good to be fully aware of this so that you can decide whether or not you want to work for yourself.

If you decide to take up the challenge, you'll find that there is plenty of information available to help you on your way. You can purchase business start up books at your local book store that guide you through the initial evaluation process, set up, accounting and management functions. Read through the list of contents at the front of some books before you choose the best one for your needs. Alternatively, you can choose to take a course designed to teach people everything they need to know about starting their own business. A mentor with significant business experience can also be a valuable source of information.

Even successful businesses didn't happen overnight. Persistence, patience and flexibility are also qualities you will need to have in great supply. When you decide to start your own business, you need to be willing to be in it for the long haul. Rarely, will a business produce a living wage immediately or even quickly.

To give yourself every chance of success, it may well be a good idea to start your business while you are still employed and bringing in a steady income. It won't be easy, but if you aren't worried about how to pay your bills, you will be able to work steadily towards your business goals and achieve them gradually.
About the Author
Kevin Sinclair is the publisher and editor of Be Successful News , a site that provides information and articles on how to succeed in your own home or small business.
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