5 Tips for Success in Building a Small Business

1000 steps are reached after starting with the first step. Just like a big business, it must be preceded by simple steps. Could be tips for building an established business is not suitable and relevant to be applied in the development of small business. This is quite logical because small businesses have so many limitations. Some of the most visible things are the limitations of capital, human resources, and also marketing.

So how the ways that can be taken so that our early businesses that tend to be small and ‘low budget’ this can develop? Here are 5 tips on how to build a small business that I got from Ann Nicholas, founder of NetBet from the institute for entrepreneurial Excellence at the University of Pittsburgh.

Love Your Ideas

Loving the idea that you have to build a business is a price to die for you who want to set up a small business with a ‘low budget’. Why? Because loving ideas that we create can maintain motivation and enthusiasm with longer. Therefore, I personally recommend to start a business from the field that we like and in accordance with our passion. If from the beginning did not like, certainly a business that was built did not last long.

Be Knowledgeable About Product / Service

I feel alone that if we really want to start the business from scratch, then know all the ins and outs about the business we live. These tips are different from many entrepreneurs who say that technical stuff is just a matter of employees. Remember, starting a small business may start from us, for us, and by ourselves. So, congratulations on learning the ins and outs of your business! To make it easy to describe how the business model, please click the article mapping business with business model canvas.

Loving Your Own Product

Maybe now you already have a product ready for sale. One of the easiest ways to market it is to love your own products and be proud when you use them. This can be an inexpensive way of marketing and demonstrating to our prospects about our product advantages over others. If indeed our product quality, surely we love dong with our own products. Yes, right?

Get Overtime and Work Hard

Being an entrepreneur is good, especially if we talk about the money it can generate. But of course every good thing will always accompany the sacrifices required to make up for it. Are you ready to work harder than usual? During the early days I built the good Leadership and Training Center, all of my own making and even just sleeping 3 hours a day.

First, Best, Different

Opening a business in this free and studded era of opportunity is very, very easy – so does its bankruptcy. Recorded only 10% of those who open a small business can get through the first year, and only 10% of those who can pass until the fifth year. One cause of the lid of a business is because trying to play in a crowded market will do business. Try to get into a segment of needs that are still rare players in it. Make a product / service hard to imitate. Difficult to imitate does not mean complex, but more towards creativity: be the first, the best, and different. Simple right?