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Is Small Business Ownership Right For You?

Aug 17, 2007
Many people are very attracted by the prospect of starting a small business that will help them have a better life. Unfortunately, not all of them have the skills and the mind-set needed to achieve their goals. There are some important things to carefully consider before you embark on starting your own business.

First of all, what will be the goal of your business? A standard definition would say that a company is an organization made up by one or more persons which strives to obtain profit by economic means in general. A business can be considered a small business if it meets certain requirements which refer to: hired personnel, the income, and how certain aspects of the business are represented.

The role played by small businesses world wide is enormous. Generally, the smaller a business is, the smaller its' potential market is. Still, small businesses form the great majority of all businesses, being the "locomotive of competition."

Usually, the competition between small businesses has at its center the services or products they deliver to their customers and the quality of those products and services. Prices are only third in placement on a hierarchy of the importance of the competition factors.

There are also some hurdles that small businesses have to overcome on their way to becoming an economic success. The most important one seems to be the lack of a well-trained, skilled work force. Secondly, accessing the funds necessary to start up and operate a small business can be difficult. Third, many small businesses operate on a poor if not substandard infrastructure.

One of the most important categories for small business development and growth in the past few years has been the high tech industry. These companies usually create and implement technical innovations and contribute to raising the life standard. They also have great potential in creating work places and raising the incomes of from several to many employees.

Also, with the internet revolution, the number of small businesses accessing the World Wide Web has grown very fast over the last decade. Other means of communications are: cell phones, e-mails, computer networks, etc. All have had an impact on the develoment of small businesses.

The internet provides small businesses with an easy way to communicate. This is a mandatory action for a small business nowadays, and various ways of reaching both clients and employees can be used, such as w-mail and FTP.

Just a cursory consideration of these aspects of starting and operating a small business reveal how complex a process it truly is. It takes more than a dream, it takes action, commitment, determination and creativity to make the dream come true. If you are not a person who enjoys tackling challenges, then starting your own company is simply not for you.

But if you possess these characteristics and feel driven to succeed, you can learn how to run a company even with no formal management training. All you need is dedication, determination and research. You need to design a good business and marketing plan and put your ideas into action. Then you will begin building the foundation of your successful small business.
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