So you have been retrenched or downsized or whatever the overrated word is for the process nowadays and you've got decided to start out your own tiny business. There are some things that you would like to think about and take correct account of before heading down this path and investing a number of that redundancy pay within the hope of a smart come on the investment. The statistics show that one in three small businesses fail at intervals the first 3 years.
Failing in a tiny business is a bank busting, credit destroying, ego bruising, demoralising, self-worth destroying event. Not to say the stress of creditor phone calls, bailiffs, hounding debtors to pay accounts who will typically be in the same position as yourself and all the other angst that goes with the process. Before you get to this stage though you'll already have capable the hoops to try to induce or increase business loans, credit cards, finding a partner or JV partner and waking up in the early morning hours and worrying. These are simply a number of the items you wish to be aware of before beginning any little business.
Having said the realities, and you still decide to go ahead and pursue your dream of being your own Boss, then you would like to know whether tiny businesses have a future. The solution may be a qualified yes.
I say qualified because there are a number of contingencies that can impact your little business and I've got set to write down a series of articles on some of the known major ones that will carry a significant impact on the success or failure of your venture.
ATTITUDE:
The primary major contingency factor is yourself. Your angle towards working for yourself, and towards individuals as customers, will be a significant issue in the end result for you.
Many individuals once they start working for themselves without having a "boss" to account to, tend to urge lazy and start gap up the search or office late, leaving the business and going home early or taking too several terribly long lunch breaks.
Self discipline here can be the key; therefore how self disciplined are you? Can you avoid the temptation of not working therefore exhausting as you did for someone else, or will you currently work harder for yourself and your family than ever before because you're now operating for yourself and are the only one accountable for whatever the result? There's nobody else to try to to the work and there's nobody else in charge when things go wrong. You are it.
Are you a individuals person? If you are going to accommodate individuals in the flesh or on the phone continuously, how patient and understanding are you before you lose patience with folks? Individuals are your new customers and if you do not like individuals terribly abundant or have trouble coping with those whom you think about "a sandwich wanting a picnic"; then it might not be a sensible idea for you to go into a retail or services industry. People can perpetually raise you what you have got just told them either as a result of they did not hear you, did not listen or merely don't understand. Either manner, folks will be terribly attempting on a persons patience.
If you're likely to be short tempered with folks and lose patience with them, or think about customers to be a serious inconvenience when you're attempting to do one thing else in your business, then perhaps a retail or service business business isn't for you. When all, if you are going to travel broke, there are a number of nicer ways that, like sitting underneath a palm tree within the tropics somewhere, to try to to so. Your angle needs careful and honest appraisal before starting a tiny business so that you'll be able to verify your own future success or failure.
Author Resource:
William Evan has been writing articles online for nearly 2 years now. Not only does this author specialize in Small Business, you can also check out his latest website about:
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