I’m more interested in microbusiness owners (businesses of one, usually, or what we call solopreneurs) who want to get to the next stage of small business growth. I really have no idea how to create a billion-dollar business, or even a million-dollar one - so I won’t be writing about that. While they may be “good enough,” these businesses could be so much better. While 50% of small businesses fail, we have no idea how many other small businesses end up stuck in second gear for the rest of their business lives. You can get something going, but it doesn’t go very far. More often than not, you hit a big wall somewhere along the way. My own story wasn’t very strategic, but at least I was able to focus on the sales.īig Challenge #2 for an average Small Business usually comes after you’ve had some initial success. I’ll write more about getting how to get started later, because I read your emails and I know it can be hard in the beginning. To be successful, you need a product or service that sells, and one way or another, you need to do some selling-the sooner, the better. Without cash flow, you can’t do anything, so it pays (literally) to focus heavily on your initial sales process.īecause of this first challenge, we can see how roughly 50% of small businesses fail within the first five years. Many would-be entrepreneurs don’t pay enough attention to cash flow in the beginning, using a makeshift “if you build it, they will come” approach. The first challenge is getting some initial cash flow heading into your PayPal account (or however you get paid). I’ve found that there are two sets of Big Challenges faced by most Small Businesses. Something on the Internet, perhaps-since that’s the way an estimated 24 million of us earn our living these days, just in North America alone. Let’s say you have a decent little business going.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |