| Every year millions of people answer "Yes" to that | | | | percent of the private gross domestic product last |
| question and every year that answer costs many of | | | | year) by finding a different approach -- a |
| them money, time, confidence, and heartbreak. The | | | | niche.Knowing your niche means you are better able |
| Small Business Administration estimates there are | | | | to find, target, and maintain your customers as well as |
| 580,900 new small businesses opening each year and | | | | provide the best possible goods and services to that |
| that number does not include the small one-person | | | | customer base. That focus is one of your best |
| entrepreneurships that pop up every day. However | | | | chances to not only survive but to thrive in a very |
| even if you are your business's sole employee then | | | | competitive marketplace.3. What Is Your Plan Of |
| there is still something to be learned from the SBA's | | | | Action?Another key factor in the survival and ultimate |
| numbers.According to the SBA, two-thirds of new | | | | success of your business is how much planning you |
| businesses survive at least two years and 44 percent | | | | do before you open your electronic or physical doors. |
| survive at least four years. Two of the key factors in | | | | You need to decide if your business will be based on |
| the businesses survival and ability to thrive: the owner's | | | | the internet or include more traditional models. Are you |
| education level and the owner's reason for starting the | | | | going to work full-time or part-time at your new |
| firm in the first place.How can you make sure that you | | | | business? Are you going to hire help or go solo? Have |
| are among the winners rather than the losers in this | | | | you written (or at least outlined) your business plan? |
| high stakes game? The answer is inside of you. You | | | | Dreaming, thinking and planning can save you much |
| must ask yourself four key questions to determine | | | | trouble and waste later when things are hectic and |
| whether your own small business will survive and | | | | problems strike. Planning can also help keep you |
| thrive.1. Are You ReadyHave you mentally prepared | | | | focused and to balance your spending and time.4. |
| yourself for the switch from employee (or student or | | | | Who Are You Going To Call?At some point, no matter |
| whatever label fits you currently) to boss. You are | | | | how experienced a business person you are, you will |
| going to be the one making decisions now about | | | | need help. You will need support, advice, tools, or |
| everything from office products to product line. This | | | | information -- or all of the above. One of the beautiful, |
| total control is one of the driving forces behind many | | | | and most frightening, aspects of growth is that it can |
| people who take the plunge into starting their | | | | lead you to places you never imagined. No matter how |
| ownbusiness but it is also one of the elements that | | | | much planning and experience you bring to your new |
| drives new entreprenurs crazy. When you start out | | | | position as CEO the unexpected will arise. How will |
| there is an endless list of decisions that need to be | | | | you cope with this? It is important to recognize that no |
| made and new questions crop up every day.Even | | | | business is an island. It is not failure to seek help. Failure |
| more important you will need to remember that in a | | | | is when your business shuts down because you didn't |
| small business you will wear many hats. Even if you | | | | get the help you needed.The best way to get timely |
| manage to start out with one or more employees you | | | | help is to work on your support system while you |
| will each fulfill more than one role in your new business. | | | | work on building your business. That way you will |
| And if you are running a one-man or one-woman | | | | already have a ready list of resources available that |
| show then you serve in every capacity from file clerk | | | | you can quickly tap into when emergencies strike. In |
| to maintenance crew to salesman to CEO. Can you | | | | today's world there are many marvelous resources |
| handle switching from task to task and role to role like | | | | available to you no matter what your business model |
| that? Are you willing to make those switches?Similarly, | | | | may be. These include:~ Publications (newsletters, |
| have you prepared your family and friends for this | | | | magazines, books)~ People (professional advisors, |
| switch in attitude. Your life is going to change -- | | | | mentors, teachers, consultants)~ Networks |
| probably pretty drastically -- and that change can have | | | | (organizations and forums in your niche as well as |
| a positive or negative impact on your family life and | | | | general business and marketing)~ Education and |
| social interactions. It will make things much easier if | | | | training (tutorials, courses, and seminars)After you have |
| your friends and family are supportive going into the | | | | answered these four key questions you are now |
| process.2. Where Is Your Niche?Have you identified | | | | ready to ask yourself that one big question again -- |
| your niche yet? One of the reasons many businesses | | | | are you ready to start your own business?Deanna |
| fail is that they fail to focus on a target audience. Yes | | | | Mascle is happy to offer advice about Starting Your |
| if you are a major discount chain then you can sell | | | | Own Business as well as other advice about Small |
| everything from peanuts to wallpaper but this type of | | | | Business. Internet marketers can also subscribe to her |
| business requires vast resources that just aren't | | | | internet marketing newsletter Establish Your |
| available to the small business. But small businesses | | | | Epresence for advice and tips about promoting and |
| dominate the marketplace (creating more than 50 | | | | growing their business. |