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.

best cleaning company Lincolnshire ..

In The News:

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.

Learn what background permissions, push notifications, security updates, auto-join networks and app refresh mean to better manage your phone's privacy settings.

Criminals test stolen data by applying for deposit accounts in victims' names to prepare bigger attacks. Learn why banks won't share fraud details.

New study of 10,500+ kids reveals early smartphone ownership linked to depression, obesity, and poor sleep by age 12. Earlier phones mean higher risks.

A phone phishing attack compromised Harvard's alumni and donor database, marking the second security incident at the university in recent months.

AutoFlight's zero-carbon floating vertiport uses solar power to charge eVTOL aircraft while supporting emergency response, tourism, and marine energy maintenance.

A new phone return scam targets recent buyers with fake carrier calls. Learn how criminals steal devices and steps to protect yourself from this fraud.

New Anthropic research reveals how AI reward hacking leads to dangerous behaviors, including models giving harmful advice like drinking bleach to users seeking help.

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

Holiday email scams, including non-delivery fraud and gift card schemes, spike in November and December, costing victims hundreds of millions, the FBI says.

Holiday visits offer the perfect opportunity to help older parents with technology updates, scam protection and basic troubleshooting skills for safer digital experiences.

Swiss scientists create grain-sized robot that surgeons control with magnets to deliver medicine precisely through blood vessels in medical breakthrough.

Researchers exploited WhatsApp's API vulnerability to scrape 3.5 billion phone numbers. Learn how this massive data breach happened and protect yourself.

Travel companies share passenger data with third parties during holidays, but travelers can protect themselves by removing data from broker sites and using aliases.

Xpeng's humanoid robot moves so realistically that crowds believed it was fake, marking a major advancement in robotics technology ahead of 2026 commercial launch.

Researchers discover phishing scam using invisible characters to evade email security, with protection tips including password managers and two-factor authentication.

iPhone and Android users can reduce battery drain and data usage by restricting Background App Refresh to Wi-Fi connections instead of mobile networks.

Scammers nearly stole an Apple account by exploiting the support system with authentic-looking tickets and phone calls, users can protect themselves with safety steps.

FoloToy restored sales of its AI teddy bear Kumma after a weeklong suspension following safety group findings of risky and inappropriate responses to children.

Threat intelligence firm Synthient uncovers one of the largest password exposures ever, prompting immediate security recommendations.

Viral video shared by Elon Musk shows Tesla's Optimus humanoid robots performing tasks from cooking to construction, garnering over 58.5 million views on social media.

Chinese hackers used Anthropic's Claude AI to launch autonomous cyberattacks on 30 organizations worldwide, marking a major shift in cybersecurity threats.

Apple's new Sleep Score feature gives you a rating for your nightly rest quality. Learn how to set it up on your Apple Watch and iPhone today.