Home
>
Small Business
>
The Failures Guide to Small Business Success

The Failures Guide to Small Business Success

How many "get rich schemes" have you joined? Or have you invested in numerous legitimate business endeavors only to have them not work for you? Have you started you business and now facing a complete shut down? Do you consider yourself a failure? Are your loved ones pressing you to give up?

Risk-taking is a large part of entrepreneurship, in fact it is what drives it, and it's why so many people avoid small business, despite its many potential rewards. Those of us who have tried it only to have failed may find ourselves right back where we started, which could leave us feeling like total failures. Of course, this is no place to be.

If things have gotten rough, to the point you may have to close up shop or you're seriously thinking about it, then it is no accident that you've found this article.

Every small business owner will face difficulties from time to time. According to http://sba.gov most small businesses can take up to two years before becoming profitable. But even so, knowing that won't pay your bills. So how can you turn things around? Below are some special tips that will help you through the tough times:

Volunteer:You might be wondering how could volunteering help my struggling business? But it is a great way to expand your networking circle while business is slow. Find organizations that could use your help. Contribute your best work. This is especially helpful for service businesses. Your non-profit contributions lend credibility to your business that money can't buy. Your non-profit work can provide you with valuable references, add to your portfolio, help you gain additional experience, help you with networking, receive free press, and many other benefits. Not to mention the great feeling you get from knowing you've contributed to a good cause.

Moonlight: One great way to keep money flowing is to take a part-time or temporary job until you can fully support yourself with your business. Your various skills are quite useful to other businesses; many of which would love to have a self-starter a part of their team. In some cases, you may be able to work for your previous or current employer on a part-time or temporary basis. You can spend the time you need for your business working on existing projects, volunteering and the like while making sure you have money for bills and other essentials.

Subcontract:Your business may not be doing what you'd like but there are many other businesses that are doing quite well. So well in fact, that they need outside help to keep going. You can offer your services to these businesses by checking out your local yellow pages, classified ads, or even a web site like http://sba.gov, which allows you to bid on projects and services posted by other companies and individuals.

Lower Overhead Costs:Evaluate your accounts payables and try to determine ways you can lower costs. Can you reduce how much you spend on long distance? Can you find a cheaper host? Can you share office space so you get afford your lease payment?

Customer Loyalty Promotions:Offer incentives to your existing clients. Provide offers that you know they could use and are at reduced prices. Special pricing for existing clients fosters loyalty and is often your best source for new funds and generating new clients through referrals.

Pay Special Attention to Accounts Receivables:Always stay on top of who owes you money. You should develop a step-by-step system to approach clients or vendors that need to send you any funds. In many cases, a simple oversight is the reason you haven't received what's due to you from your business associates so keep reminding them!

Stay Active in Marketing:Despite the fact you may have no current clients right now don't discontinue your marketing efforts. Keep networking, submitting press releases, and following your marketing plan.

Save for Rainy Days:If you follow these tips, you're bound to get new customers or clients. Avoid getting too excited. Put some of your profits away to ensure you have some to last you through any dry spells you may encounter in the future.

Don't Give Up:Failure is not an option. Keep reminding yourself of this little phrase each time you feel the temptation to succumb to negative thinking. Negative thinking is more powerful then you think. But the best part is that positive thinking is just as powerful if not more. Remember, if you believe you will fail, you will.

Follow these tips and you're sure to see your business turn-around. There is tons of free help available on the Internet and there are many people who have been where you have been. Don't be afraid to ask for help.

Copyright ? 2005 Rhonda Winn - All Rights Reserved. Rhonda Winn has been helping small business owners since 2000. She is the author of the popular eBook, "http://sba.gov" Receive the first chapter free, when you join her bi-monthly newsletter today: http://sba.gov. Her site contains dozens of free downloads, articles, forums, resources, journals, and more.

You are free to publish this article as long as the content remains unchanged and copyright notice and byline is not removed from article.

elite cleaning services Mundelein ..

In The News:

Scammers are flooding inboxes with fake tracking alerts that mimic real carriers, exploiting the holiday rush to steal logins and personal data.

The Fox News AI Newsletter brings you the latest news on AI technology advancements and the challenges and opportunities AI presents now and for the future.

Texas family reunites with missing 11-year-old cat Grayson after 103 days using Petco Love Lost's AI photo matching technology and community help.

Tired of AI customer service loops? These insider tricks help you escape "frustration AI" and get real human help when you need it most for urgent issues.

Unlock richer audio from your streaming apps with simple tweaks to volume normalization, equalizer settings, and quality preferences for cleaner sound.

Scammers are sending fake Facebook settlement payout emails that mimic legitimate notices from the privacy settlement administrator to deceive users.

Holiday shopping scams surge as fake refund emails target distracted consumers during Black Friday and holiday seasons, costing Americans billions annually.

The AI-powered IRMO M1 exoskeleton features four modes, including turbo, eco, training and rest for hiking, running, cycling and sports with eight-hour battery life.

OpenAI announced upgrades for its ChatGPT Images platform on Tuesday, saying the program can now make more precise edits and produce images more quickly.

Chrome for Android now turns web articles into AI-powered podcast conversations. Get hands-free browsing with Google Gemini's natural audio summaries.

LastPass faces $1.6 million fine from U.K. regulators after 2022 data breach exposed 1.6 million users. Password manager failed proper security controls.

Petco disclosed a data breach exposing customer Social Security numbers, financial account details, and driver's license information due to a software error.

Baseball teams can now analyze complete swing mechanics in normal training environments using Theia's markerless AI system that processes standard high-speed footage.

Smart home hacking fears overblown? Expert reveals real cybersecurity risks and simple protection tips to keep your connected devices safe from hackers.

MIT develops needle-free glucose monitor using light technology. Revolutionary device could replace painful finger pricks for diabetes management.

The ClickFix campaign disguises malware as legitimate Windows updates, using steganography to hide shellcode in PNG files and bypass security detection systems.

Researchers from Osaka Metropolitan University designed a 21-foot dome that combines aquaculture and hydroponics to create a self-sustaining urban food system.

The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.

ChatGPT data breach exposes personal info of users through partner Mixpanel. OpenAI confirms names, emails compromised in security incident.

Android rolls out Emergency Live Video for 911 calls, letting dispatchers see real-time scenes during emergencies. Great for holiday travel safety.

Malicious Chrome and Edge extensions collected browsing history, keystrokes and personal data from millions of users before Google and Microsoft removed them.

Google's new Call Reason feature lets Android users mark calls as urgent before dialing, displaying an urgent label to recipients using Phone by Google app.

Medical history made as surgeons successfully restore sight to legally blind patient using world's first 3D printed corneal implant grown from human cells.

Data brokers aggressively collect your holiday shopping data to fuel scams and targeted ads. Learn how to delete your digital profile before 2025 starts.

Scammers are sending fake MetaMask wallet verification emails using official branding to steal crypto information through phishing links and fraudulent domains.