Small business is going through a transition. Many employees are no longer tied to a geographic office and are working from home. This is a new phenomenon and there are hints of huge sector growth in the days to come. Many new entrepreneurs have been born because of the turbulent economy. These people are starting small businesses and enjoying the benefits of self-employment, instead of trying to find new employment and possibly enduring the same fate as previously experienced.
An admiral made a decision to fight a battle against overwhelming odds. It seems that he was approaching the coast of enemy land, with a larger naval force closing in from behind and a great army approaching from the land ahead. He prayed and spoke to his men. He said that their weary forces would land on the beach and prepare for the battle. There was only one option and that was to turn back. They burned their ships after they landed. They had only one choice: fight to win or die. The enemy eliminated any other escape route. They were fixed on the goal of survival.
Entrepreneurs must take that same attitude. We do not want to be denied. If we don’t grow and prosper, our business will surely fail. We need to find ways to cost-effectively market and increase sales. We need to have enough cash flow for daily operations. We have to be persistent, relentless, and vigilant. The CEO is the manufacturer, the sales team, marketing department, legal office, accounting office, human resources manager, IT manager, webmaster, and so on. We don’t have the money to be in all these positions. Our job is to sell. We need cost-effective resources to help us grow and protect our investment.
Our marketplace has changed as a result of the growth of the internet. Years ago, a small business owner decided to set up shop in a geographic area. The shop is usually located in an office at the home of the owner. The world is now a marketplace. Almost anyone can take part in this revolution because the costs of marketing products and communicating worldwide are so low. Voice mail, cell phones, email, and effective e-Commerce websites give the illusion of size and grandeur to even the smallest home-based business. The end customer doesn’t know if their supplier is local or across the world. He could be dressed in a shirt and tie or in his pajamas. Most of the time, the exchange of products and services is successful for a profit.
It is important for a home-based business owner to be aware of the resources that are available to him/her. Too many people jump into business only to fail because of poor planning and insufficient financial resources. Do not get caught in this trap. Don’t quit your day job until you have enough money in the bank to pay your bills for at least a year. You can become aware of the resources available to you. As you make this leap of faith into the entrepreneurial world, you want everything possible for you.
There are many magazines dedicated to small businesses, home-based businesses, marketing, sales, accounting, and other topics. Stay up to date on competition and other aspects of your business interests by reading your industry publications.
More opportunities are available for the wise entrepreneur. You need to get all of your ducks in a row before you leap into the new world marketplace. Take action on your ideas, be smart and learn all you can. Like the admiral, be determined to win in the face of adversity.