Home
>
Small Business
>
Starting a Small Business? ?Tips from a Veteran

Starting a Small Business? ?Tips from a Veteran

Congratulations, you are starting a small business! You are taking charge and going for your piece of the American dream! Your excitement is high, and the adrenaline is pumping! Everyone dreams of freedom and owning a successful business, but not everyone can successfully create that reality. Now that you've made the commitment to give it a shot, let me give you the single most important tip that I can give you to insure your success. Businesses that succeed whether large or small all begin with a business idea. Your challenge is to determine if your idea will be a winner or a loser.

You may be surprised to know that in most cases it is not the quality of the idea, but rather the quality of the planning that determines the success of the business. That's right, small businesses that start with a good idea often fail because they lack a plan to successfully execute the idea through both the good and the bad times. The plan to succeed is probably more important than the idea. Fail to plan and you plan to fail.

Writing a good business plan is not something most entrepreneurs want to spend their time doing? they have dragons to slay, and mountains to climb. A business plan seems like busy work that is necessary only for the banker or the angel investors, right? Wrong. The business plan, when done correctly is the guide that an entrepreneur can refer to when under the unending pressure that is part of any startup venture. Sometimes the pressure is from too much business too quickly, and sometimes from not enough business? the 'ol too much month left at the end of the money dilemma. Referring back to the business plan can clarify the vision and help make those difficult decisions easier to make.

Reviewing your plans and your solutions for problems that were thought through with the luxury of a clear head and no pressure can give any entrepreneur a fresh perspective. And perspective is needed when you are in what seems to be a never ending crisis. I don't know of a single entrepreneur that hasn't felt that feeling. This alone is reason enough for a good business plan.

Most entrepreneurs write (or hire someone to write) a business plan that outlines a solid plan for success, as they should; however, they often fail to fully contemplate the risk factors, the potential problems and challenges that are surely going to raise their ugly little heads. A good business plan evaluates every aspect of the business good and bad. Granted risk factors and contingency planning are not as much fun to concentrate on, but knowing what to watch out for certainly helps a company avoid the pitfalls that gobble up most startup companies. Better to spend time thinking about how to avoid the pitfalls than to experience them first hand!

Your business plan should have contingency plans for every conceivable disaster. Disaster recovery planning or business continuity is what separates the winners from the losers. It is easy to sail on calm seas, but when it is stormy, the boats that float are the ones that planned for the storm. Planning a disaster recovery strategy is vital for every business regardless of its age or size.

Don't be afraid that discussing the risks so openly will scare away the potential investors or the much needed bankers. It is quite the opposite. Most business plans are glorified sales pitches. Don't kid yourself, seasoned investors and bankers read between the lines hunting for risks. An entrepreneur that has taken the time to adequately evaluate the risks and has formulated plans to lesson the impact of those risks on the startup company will be well ahead of the game. Confidence is gained when it is evident that an entrepreneur has planned for every possibility. Contingency planning is something that gives investors' confidence in your plan. Knowing you've carefully evaluated the risks and are ready to plow ahead is the sign of a strong leader.

Starting a small business is the most rewarding thing you will every do ? if it is successful. Take advice from this seasoned sailor? spend the necessary time developing your comprehensive business plan before you float your boat! It will help you weather the storms and sail into the exciting seas of success!

Have fun and good luck!

Renee Rich is a success entrepreneur and freelance writer offering guidance and suggestions for small to mid-sized businesses concerned with business continuity, time management, strategic internet marketing, business & money. Her many articles on these topics can be found at http://www.business-continuity-4u.com

She gives information and tips to help grow your business, save money, manage your time, and develop a successful business continuity plans. For more information go to: http://www.business-continuity-4u.com

high-end home cleaning Des Plaines ..

In The News:

X Square Robot unveils Wall-OSS open-source AI model that helps robots adapt to unpredictable real-world tasks beyond narrow scenarios.

Airport workers report surge in fake lost luggage claims as scammers retrieve discarded baggage tags containing passenger names and travel information.

Unlike robotaxi competitors, Tensor focuses on consumer-owned self-driving cars that adapt to highways and urban roads with full redundancy systems for safety.

Medicare scams cost $54 billion in 2024 as fraudsters target beneficiaries with fake calls demanding payments and personal information to steal benefits.

Scammers create fake Evite invitations that mimic legitimate event emails, requiring users to verify senders and use antivirus software for protection.

The new Apple Watch hypertension feature passively monitors blood pressure patterns over 30 days using sensors to detect chronic high blood pressure signs.

Chrome extension spyware disguised as a free VPN service highlights security risks after it captured private browsing data from trusted sites.

New research shows how fatty acids in cooking oil can safely dissolve and recover silver from circuit boards without harmful chemicals or environmental damage.

The Fox News AI newsletter gives you information on the latest AI technology advancements, and about the challenges and opportunities AI presents now and for the future.

Anthropic investigates alarming AI abuse case where hacker automated entire cybercrime campaign using Claude, stealing sensitive data from defense and healthcare firms.

TikTok, Meta and YouTube restrict Charlie Kirk shooting videos with age gates and warnings while X faces criticism for allowing continued circulation.

Cybercriminals use fake troubleshooting websites to trick Mac users into running terminal commands that install Shamos malware through ClickFix tactics.

San Francisco startup Fable launches Showrunner, an AI platform dubbed the 'Netflix of AI' that generates animated episodes from text descriptions with Amazon support.

Apple raised iPhone prices for some models despite receiving tariff relief from President Donald Trump, with the new lineup starting at $799 for the base model.

A two-story 3D concrete printed home in Western Australia demonstrates faster construction methods that could reshape American housing amid rising costs.

Credit scores remain important during retirement for insurance rates and housing applications, while seniors become prime targets for identity theft and financial scams.

Scammers now send unexpected packages with QR codes that redirect victims to fraudulent websites or download malicious software to steal sensitive information.

Meeting AI tools record private conversations alongside work discussions, creating privacy risks that can be managed with proper settings and awareness.

Hotel privacy concerns are valid but rare, with methods to detect hidden tech using smartphone flashlights, mirror tests and scanning apps.

Improve your Wi-Fi speed and reliability with 10 simple router optimization tips that don't require special apps or expensive subscriptions.

A Columbia University breach exposed names, Social Security numbers and academic records of nearly 869,000 people, with notifications beginning in August.

Rental car drivers use AI-powered apps like Proofr to protect themselves from unfair damage fees as major companies deploy automated inspection tools.

Fox News' AI newsletter brings you the latest on technology advancements around artificial intelligence.

OnTrac data breach between April 13-15, 2025, exposed personal information of over 40,000 people including Social Security numbers and medical records.