Friday, 18 November 2011

Small Business 101: Deadly Ignorance

U.S. Small Business is again in transition. Many employees, now working from home, are no longer tied to a geographic office and the woes of travel. This is a relatively new phenomenon with hints of explosive sector growth in the coming days. As this turbulent economy has forced downsizing, restructuring and closures in the sea in large companies, many new entrepreneurs are born. These are people who, instead of trying tirelessly to find new employment and possibly enduring the same fate as previously experienced, and are starting small and enjoy the benefits and dangers of self-employment.

There is an old story about an admiral's decision to wage a battle against all odds. It seems that he was approaching the coast of a hostile land, with a naval force closed in most of the back and a great army is approaching the Earth to come. He prayed and then addressed his men. Announced that their battle weary forces that land on the beach before, dig and prepare for the battle ahead. There was no turning back and no other alternative. He ordered their ships burned after his arrival. Their only option was to fight to win or die. They defeated their enemies, as it removes any other way. They were fixed on the goal of survival and nothing else.

This is the same attitude we have to be entrepreneurs. We can not afford to be locked. We need to grow and prosper, or business will be lost. We must continually look for ways to profitably market our business and increase sales. We need to manage costs and have sufficient cash flow for daily operations. Each of us is a persistent, relentless and vigilant. President and CEO of We are the manufacturer, the sales team, marketing department, legal, accounting, human resources manager, IT managers, webmasters and so on. We can not afford to have all of these locations. Our job is to sell! We need to find cost-effective ways to help us grow our business and protect your investment.

The growth of the Internet has changed our marketplace as well. A few years ago, a small business owner has decided on a piece geographic market and settle. Today, this store is usually in an office on the house of the contractor. The market is now in the world. Costs of marketing and the communications are so low that almost anyone can participate in this revolution. Sophisticated voice mail, cell phones, email and effective ecommerce sites now give the illusion of size and grandeur of even the smallest home business. The end user usually has no idea whether their supplier is local or global. It can be dressed in a shirt and tie or in pajamas! All that matters is that usually trade in goods and services has successfully created a surplus.

And 'vital for small, home-based entrepreneur should be aware of resources available to him like a great leap forward. Too many people jump into business only to fail prematurely due to poor planning and insufficient financial resources. Do not get caught in this trap. Do not quit your job until you have enough money to pay the bills for at least a year in their new adventure. Become aware of and develop the resources available. You want everything possible going for you when you make this leap of faith in the business world.

Here in South Carolina, we have excellent business center of women (, a division of SCMEP, South Carolina Manufacturers Extension Partnership (, one of the best secrets kept available to all levels of our government business. Other states have similar programs modeled after ours. It's incredible resources, partially funded by state funds and private, for little or no cost to entrepreneurs, which is designed to help the successful growth of small businesses. Some additional national funding:


There are also numerous magazines devoted to small business, home business, marketing, sales, accounting, etc ... Learn to listen to these and other resources at their disposal. Read your industry publications to stay abreast of competition and other aspects of your business interests.

A single legal issue, FACTA problem, accounting error or marketing mistakes can put you out of business. In case of FACTA, insufficient security or poor record-keeping these days could find you legally responsible for a problem of fraud staff only identity that can end up being very expensive. A single lawsuit or dispute provider can stop you. Many entrepreneurs are ignorant, ill-prepared and under-educated in these issues and others. Do not get caught in the trap of ignorance fatal.

There are more opportunities than ever before available to the contractor wise. Get all you ducks in a row before fateful leap into the new world market. Be smart, learn everything you can as quickly as possible and act on their ideas. As the Admiral, is determined to win what may seem overwhelming adversity.