| Many small business startups fail within the | | | | market leader.The work place. Be hands-on. Be |
| first 2 years of existence. There are several | | | | the boss, but at the same time be the |
| different factors reason for the failure. One | | | | employee who does actual work. Don't get |
| reason many entrepreneurs often under | | | | disconnected from your own business now that |
| estimate the need to find a niche market and | | | | 'you are a the boss'. Stay involved as long |
| to serve it well. Instead of finding the | | | | as you can. Work harder than your employees. |
| niche market they attack the big guys head | | | | Be emotional and inspire your employees with |
| on. If you have enough money to throw at | | | | your dedication. The spark will eventually |
| 'this problem' you might succeed, but in | | | | jump over and the productivity increase can |
| reality almost every small business doing | | | | be enormous. Make your work place 'cool'. |
| this will fail and eventually shutdown | | | | Create an environment people want to work at. |
| operations.So, what should small business | | | | If employees wake up in the morning and |
| startups do to avoid this big mistake? How | | | | really like to come to work because they |
| can they survive and grow and become | | | | enjoy what they do, you will definitely |
| successful?As mentioned before - finding a | | | | benefit from it. And keep in mind - you need |
| niche market is the first big key to not be | | | | all the help you can get when competing with |
| destroyed head-on buy the big guns. Never, | | | | the market leader. Be the employer of |
| ever try to be the "Wal-Mart" for everyone. | | | | choice.Be the star in your community. The |
| Not everyone is your target group. Carve out | | | | place where you start your business can be |
| a niche market, then slowly steal away market | | | | the founding place of the next 'business |
| share from the market players. Eventually | | | | empire'. People are proud if one of them |
| pick a niche that you know of where the | | | | makes it to the top. Remember Johnny Carson? |
| market leader is not spending enough | | | | He gave back to the community where he had |
| attention on. Grow here and grab market | | | | grown up. Nobody outside of that local area |
| share. Eventually you will grow big enough | | | | really knew about it or had paid attention |
| without being noticed to become the market | | | | but the locals - they admired Johnny Carson |
| leader for this niche. Companies like | | | | and were thankful supporters. Keep this in |
| Microsoft and Wal-Mart tend be slow moving | | | | mind when building a business. You might |
| but they have enough cash to catch up quick. | | | | become as big as other market players, but |
| We have seen situations where the small | | | | doing good is not a matter of how many |
| business owner was able to cash out big time | | | | millions you have. On the other side - you do |
| from a situation where he/she was able to | | | | not want to build a business just to make |
| grab enough market share to be considered | | | | $30K per year. Your goals should go much |
| 'armed and dangerous' for the big | | | | further out and higher. Try to be the best in |
| guns.Compete on things where large market | | | | your field. The sky is the limit.Use |
| players fall short. Compete on experience and | | | | technology. Technology can be your friend. |
| value added services - not price. You will | | | | Small businesses can respond much faster to |
| not be able to compete on price with somebody | | | | market trends than the big guns. Be |
| like Wal-Mart or Target. Their buying power | | | | innovative. While you're the small guy you |
| is just too big for you to swallow. Let your | | | | can use this to your advantage. Being small |
| experience disappear differences in price for | | | | is no excuse when it comes to using |
| a product. Give the customer the feeling that | | | | sophisticated technology. See the advantages |
| you know what you are talking about and that | | | | of what technology can do and put away with |
| this experience is worth spending a little | | | | the whining about the next upgrade coming |
| extra.Emotions can be a big advantage for the | | | | soon. As long as you calculate it properly |
| small business startup. Bond with the clients | | | | and make your case, you can most likely |
| and vendors. A personal (business) | | | | provide a quick ROI (return on investment).Of |
| relationship that makes everyone feel good | | | | course there are many more things that come |
| will get you repeat business and fair deals | | | | into play in regards to business success. The |
| from vendors (friends don't steal from | | | | steps outlined in this article however will |
| friends). If the vendor can make his share of | | | | give you a good head start when working on |
| revenue and you can get your share of the pot | | | | strategic placement of where and how your |
| - everyone will be happy. Nobody likes to be | | | | business should start. Good Luck. |
| squeezed by the big sales department of the | | | | |