Are you searching for the best small business to start on a shoestring? The key is choosing profitable small business ideas. Today more than ever, starting a small business of your own is within reach. No longer do budding entrepreneurs have to have big cash on hand to realize their dreams of small business ownership.
In fact, you can successfully operate and grow a small business right from your own home. There are literally hundreds of small business ideas well suited to “work at home” entrepreneurs.
Since you’re visiting this blog, more than likely you have been putting some serious thought into having a small business of your own. So why not consider small business ideas which offer you maximum freedom and flexibility, such as work at home opportunities?
Take a minute to think about all of the people you know who have been talking about starting a business for years. Perhaps some are your family, friends or even co-workers.
So, what does it take for you to find the best small business to start right now — and with limited start up money? You’re only 3 steps away from finding the answer.
Step One: Take a look at the facts
Fact #1: According to a recent study of entrepreneurship by the Kauffman Foundation, about 30% of American adults are starting up new businesses each month. That’s about 495,000 new businesses every month, and just under 6 million new businesses each year.
Fact #2: According to the U.S. Small Business Administration, 56% of these new businesses will not make it beyond 4 years, with one third closing their doors in as little as 2 years! This means your new business has a 44% chance of survival beyond 5 years and a 31% chance of making it beyond 7 years.
Fact #3: The leading cause of start up failure is lack of operating capital — or, simply stated, MONEY!
Step Two: Analyze the facts
These facts seem to indicate that not having adequate business start up funding and a steady supply of operating capital leads to business failure, and ultimately shut down. This is where finding the best small business to start can have a huge impact on success or failure.
Step Three: Draw Your Conclusions
Reducing small business start up costs and operating expenses will give a new business a better chance of survival. Therefore, being successful in your new business venture requires conserving your financial resources by choosing small business ideas with low start up costs and the potential for high profitability.
So what is the best small business to start?
Answer: A Home Business. Choose profitable small business ideas which will make it possible for you to work at home. It’s cost effective, convenient and it can give you the freedom and flexibility to spend more time with family and friends.
When many people think of “work at home” business opportunities, they often think of stuffing envelopes or assembling parts. However, there are many more creative, fun and profitable “work at home” small business ideas for you to discover right here.
When it comes to starting up a home business, one of the biggest questions we’ve often been asked is “which home business opportunity is the easiest, quickest, most profitable and requires little money to start.
Answer? Discovering the best small business to start usually comes from making an honest assessment of your skills, talents, abilities and work experience.
However, this is not a hard and fast rule. What if you’ve trained all of your life for a profession you absolutely hate, and all of your education and work experience relates to a career that you don’t intend to continue pursuing? That’s where passion comes into play.
3 Considerations For Finding the Best Small Business to Start…
#1. Find Your Passion:
Do what you love and love what you do.
#2. Bootstrap:
Keep start up and operating costs low by operating a home business.
#3. Learn to Earn:
Get the skills and training you need to successfully start, manage and
grow your small business.
The best small business to start begins with an idea that you’re passionate about, even if you have yet to get the training and skills required to make it a success. You see, if you love what you do, you’ll enjoy every minute of learning how to do it professionally.
Even if you are high on ambition and have the education and experience to run a business, none of that matters if you don’t have the confidence of first determining the small business idea that’s right for you.
Operating a home business is the first step to starting up on a shoestring. The second step is getting a good education in bootstrapping. This is not as hard as you may think. There are many great resources available to help you along.
Find the “work at home” business idea that’s right for you!
To Your Start Up Success!
Consider joining NASBP for additional information and guidance.
No comments:
Post a Comment