Perhaps it’s something that you have wanted to do for many years. Maybe you felt as secure in your current job as a politician sexting in your new one, or you lost your job.
Whatever your reason, passion for your product or your service could be your best weapon. “The Wall Street Journal Complete Small Business Guidebook”It says that it “often the difference that hooks customers, lands deals and attracts investors”It won’t guarantee success by itself.
These are some tips to help you avoid the following pitfalls:
* Use technology to stay lean. The internet exists to reduce your expenses, which is why the average size of all start ups has fallen to 4.9 employees today. According to the National Small Business Administration, this is an example of how small businesses can be reduced. “most small companies”Now you can buy supplies, pay your bills, and manage your payrolls via web-based services. Even if this is your sister in law, you may want to rethink the process.
* Protect your ideas. If you believe you have invented the proverbial “better mousetrap”If you are looking for financial backing to market your invention, be aware that it is possible to share any patentable information with others. At the very minimum, get a nondisclosure agreement stating that they will not steal it. “In the end,”According to the Wall Street Journal, “the best way to protect yourself is by being extra cautious about whom you share your idea with.”
* Learn from what works. “Continuing to innovate has been key to our success,”Bob Tafaro is the CEO of GAF, a New Jersey-based company.www.gaf.com). It was already North America’s biggest company. roofing manufacturerWhen it decided to embrace the entire green movement, a few decades ago — a decision which (pay attention here would-be entrepreneurs), not so incidentally resulted luminous free press coverage “cool roofs”Even as it prepared to celebrate its 125th birthday, initiative.
* Do your homework. An existing franchise can be a good option for those who want to take control of their lives and become their own boss. There are literally thousands upon thousands of franchise systems in many different industries. When deciding which franchise system is right for you, consider the following questions: Is there a need for the service in your area? Is it a fad or a trend?
Last statistic: According to the Small Business Administration (SBA), small employers, led by start-ups, have created 65 percent net new jobs in the last 17 years. This at least indicates that you are not the only one.
