Small Business Startup Advice
“Maybe they’ve lost their job at a larger firm and they want to follow their dream by starting a small business, so we’ve actually seen an increase in small business startups,” explains Jim Schlies, VP of Economic Development at the Fox Cities Chamber of Commerce. What it all boils down to is having a solid business plan, he says. Secure enough funding, spend frugally and seek to maximize your marketing value. These are just a few tips to help you get started.
Sometimes it’s hard to predict where you’ll find your niche, so it’s a good idea to create a small business startup that encompasses a couple of different areas. For example, Dan Wiley, a 48-year-old first time entrepreneur, started a Los Angeles based firm that provides a range of services from public relations and advertising to branding and internet design. “I never expected we would be doing as much website designing as we have been, and that so few customers would be looking for our public relations services,” Wiley admits. His advice to aspiring innovators is to save up a year’s worth of operating capital to cushion the blow, should things not work out as anticipated.
“It’s been harder to find quality investors,” admits Charisse McAuliffe, the 31-year-old head of GenGreen, a database of over 45,000 green businesses and organizations. She finally made her dreams come true with her $250,000 in savings and an additional $750,000 from angel and private investors. “Now that we’re up and running, I’m getting as many as 10 solicitations per day, but for the most part they’re not viable options,” she says. With National Geographic and News Corp purchasing some of her content, this home based business is really soaring! She recommends that you check out tools like www.angelsoft.net, a social networking site for aspiring entrepreneurs and angel investors.
Sometimes even $500,000 in venture capital funding just isn’t enough for your small business to achieve what you had hoped. “Our target audience just [didn't] have the funds to start experimenting with new software,” said Kimber Lockhart (22), who is marketing a software program that allows users to edit documents within an internet browser, without downloading anything. The only way to survive the early years of your market plans is to have a talented, dedicated team of professionals working with you. She adds, “In a start-up environment, the people are everything, so get out there and recruit the best.”
Beth Kaminski is a leading expert in how to anxiety therapy and has been publishing lots of information on the best panic disorder medications for years now at anxietydisordercure.com.
