The Top Ten Small Business Startup Success Secrets

The Top Ten Small Business Startup Success Secrets


06-11-2008
By Robert Moment  / The Moment Group


Robert Moment - The Moment Group

Achieving small business success is
yours for the taking. Turn your passions into small business profits.
Small business startups around the world continues to grow
exponentially, the success rate has remained fairly consistent. Are you
ready to achieve small business success ? So what can you do to ensure
lasting success for your small business? Take a look at our top ten
small business startup secrets.

1. Market Research.
Market research is the first step to starting a business, it is the
last step, and it is an ongoing process. Market research tells you not
only if you have a viable business idea, it keeps you in touch with
your prospects and customers and helps you build your business so that
it can continue to grow.

2. Master the Internet.
The internet isn’t just a place to do business, though your business
will definitely profit with an online presence. The internet is a
valuable research tool, communication tool, payment tool, marketing
tool and so much more. Master the internet and you will find numerous
time saving, money saving, business building tools and resources –
guaranteed.

3. Seek outside Advice. You can’t
know everything and don’t expect yourself too. You certainly have
specialized knowledge and that is your strength. Consult with others
about their expert advice to build your business. For example, if
you’re a software genius chances are your copywriting skills are not
top notch. Gather advice and experience from copywriters who are at the
top of their field. Seek legal advice from attorneys you trust and
learn about customer service from experts. Gathering expert advice,
outside of your area of knowledge, will help eliminate any start-up
mistakes and set you ahead of your competition.

4. Follow your heart and passion.
It is vitally important that you enjoy what you do. Why? Because your
passion and enthusiasm will not only carry you through the tough times,
it’ll make it easier for you to be motivated to build a successful
business and maybe most importantly your enthusiasm will be recognized
and rewarded by your customers.

5. Develop a Marketing Mindset.
Marketing is one of the areas where many business owners feel unsure of
themselves. This uncertainty can lead to ineffective marketing or a
complete absence. When business owners understand that marketing is the
fuel that drives their business, and that marketing is merely an
organized means of communicating with prospects and customers, then a
marketing mindset will come naturally. You love your business and you
want it to be successful, how are you going to talk with your prospects
and let them know you’re there?

6. Make technology your friend.
Technology can save hours of your valuable time every single day and
when you’re running a business, those hours are worth money – lots and
lots of money. Technology can help business owners automate purchasing,
shipping, communicating with customers, evaluating data, testing
marketing, and so much more.

7. Embrace the power of partnerships.
Partnerships can enable business owners to leverage the strengths of
others, they enable people to create unique and beneficial businesses,
and they can save business owners time and money. For example, a
nutritionist and a fitness trainer could combine their expertise to
open a business that helps people develop a comprehensive and well
rounded business. Another example might be a person with tremendous
marketing experience partnering with a very technologically minded
business owner to offer products or services.

8. Learn the art of delegation.
When you own a small business you’re the CEO, the CFO, the
administrative assistant, the customer service team, the research and
development, the sales and marketing, the bookkeeper and everything
else. It’s impossible to maintain your sanity and run a well oiled and
successful business when you’re balancing 100 different
responsibilities and tasks. Delegating responsibilities is the key to
running an efficient and successful business. After all, as the
business owner your time is better spent growing the business, not
balancing the books.

9. Be flexible and open to ideas.
There are opportunities presented to us every single day. Being able to
recognize ideas and opportunities is the key to sustainability in
business. If you the same product or service ten years from now,
chances are your competition will be light-years ahead of you.
Innovation and change will keep your business competitive.

10. Create a Financial Plan (cash flow).
Cash flow or lack thereof, is the number one reason businesses fail. In
short, they fail to plan how they’re going to get paid and how they’re
going to pay their bills. The general rule of thumb is to make sure you
invoice as soon as possible and you pay as late as possible. Of course
this is a very simple plan and you’ll really need to sit down and
evaluate your income and expenses to come up with a plan that works on
a long term basis for your company.

Copyright © 2008 by Robert Moment. All rights reserved. You may forward this article in its entirety to anyone you wish.

About Our Guest Columnist:
Robert
Moment is a sought-after small business coach and author of Invisible
Profits: The Power of Exceptional Customer Service. Robert specializes
in teaching entrepreneurs and small business owners how to start a
business that profits and grow. Visit http://www.howtostartyoursmallbusiness.com
and sign-up for the FREE 7 day Small Business Startup e-course. For
more background information and past articles for CarolinaNewswire.com,
check out
Robert’s Archives as well as all our other guest expert columns

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