Running a small business - a few tips to make your life easier
Want to start a business but don’t know how? This article presents basic obstacles for the beginners and how
to overcome them.
business, small business, small business tips, running a business
When you have only just started your own business, you will need a lot to learn, not only about what you are
going to do, but about all the small details of running your own business. There is no one who you can count
on making the right decisions but you. The tips below may be more than useful for all small business owners
and make it more probable to bloom instead of going bankrupt (a sad end of 80% of small companies).
First of all, remember about the profit margin. All too often we forget about making money, fascinated by
all the possibilities of running one's own business. It is very easy to thwart otherwise successful business by
taking too many loans, hiring too expensive lawyer or account office and generally spending too much
money on less important matters. Remember: every business is about making money. Try to reduce your
costs as much as possible and you will succeed. Buy an expensive car only to feel like a "real" businessman
and you will never become one.
Hiring friends and relatives
The most delicate and potentially harmful matter in running your own business is the help you receive from
your friends and relatives. At first, it is often what counts most - both for practical and psychological
reasons. However many small businesses become reliant from the unpaid work of friends and/or relatives
and it will sooner or later end. That's why it is highly recommended to pay them from the very beginning
(even if your loved ones protest) - this will let you keep an eye on the real cost of business and won't turn
you into blood-sucking monster that requires more and more but gives nothing back.
Internet is one of the most powerful tools in business. It is not only about eBay, but also about fast, reliable
and cheap communication between you and your contractors and customers. Also, as the Internet becomes
more and more useful for advertising purposes, having your own website is a must - otherwise you loose
from 50% to 90% of potential customers.
Send large file to anyone at any time