| So, you've decided to start a small | | | | where your product line will sell and making efforts |
| business-congratulations! You are joining many | | | | there. Any product lines that are introduced need to |
| Americans who are tired of working for others and | | | | complement the existing business as well. You would |
| desire to work for themselves. I made this transition | | | | not want to add tools to a floral shop-it just doesn't |
| myself after eight years of teaching in the public | | | | compliment each other. Yet, a gift basket business |
| schools. I did not regret the time spent with teaching | | | | would be a great compliment to a floral shop! |
| future generations-but I became "burned out" and | | | | 4) Advertising |
| needed a change. My business is still relatively new, but | | | | Every business MUST have advertising to be |
| I've already learned some valuable things that every | | | | successful. This is especially true in the age of the |
| small business owner MUST know when they are | | | | internet. A internet site, preferably with your own |
| thinking about starting a small business: | | | | domain, is essential. Many people will not buy from a |
| 1) Tax and legal issues | | | | company who does not have a presence on the web! |
| One of the most important decisions you will make is in | | | | This in itself is a great advertising tool, but just having a |
| regards to the legal structure of your company. | | | | website won't attract anyone. You need to go to all of |
| Generally, two main types of business structures are | | | | the big search engines (Yahoo!, Google, etc.) and |
| what are known as sole proprietorship and | | | | search for a "submit a site" link. There is no guarantee |
| incorporation. Sole proprietorship is the most popular | | | | that your site will be included right away (or at all), but |
| method of running a small business. Essentially, it is a | | | | usually it will get into the system. However, each of the |
| one-person business that is not incorporated. This is | | | | "big" search engines usually require you to purchase |
| generally and easy method, though even sole | | | | some sort of advertising plan. Plans such as PPC |
| proprietorships will need to comply with local business | | | | (pay-per-click) are good because you are only |
| and zoning laws. Incorporation is a process which | | | | charged when the user clicks on the link to your |
| primarily protects the owner's personal assets. In the | | | | website. There are many good traffic exchanges |
| event that the owner were to be sued, only the | | | | which allow you to have visitors to your |
| business assets could be taken. Certainly, there are all | | | | website-however, some of these are less than |
| kinds of tax implications which need to be considered, | | | | reputable, so be careful! Finally, business cards, |
| and it is best to consult with a tax advisor regarding | | | | magnets for your vehicles, and flyers are all a great |
| tax benefits available to you. The Internal Revenue | | | | way to promote your business. I highly recommend for |
| Service also has free information for small business | | | | low-cost advertising options in these areas. They even |
| owners. | | | | offer you FREE business cards and other FREE |
| 2) Choosing the Right Name | | | | products (minus shipping and handling). The best |
| This is one of the most important decisions you will | | | | advertising, of course, is a satisfied customer. Word of |
| make regarding your small business! When choosing a | | | | mouth is priceless! |
| name, it is critical to choose one that lets the consumer | | | | 5) Customer Service |
| know what you are all about. For example: "Say It | | | | Customer service is a lost art today. Call any "big box" |
| With Flowers" is much more specific than "Jenny's | | | | company, and expect to wade through endless |
| Knick Knacks." The first example allows the consumer | | | | options before, if ever, actually getting to speak to a |
| to more quickly identify what your product is. It is also | | | | real, live person. This is the benefit of being a small |
| important to consider how a potential name will look | | | | business. When someone calls your phone, you can |
| when typed into a web browser. Generally, the longer | | | | actually answer! When people are ready to make a |
| a name, the harder it will be for the customer to | | | | decision, or simply seeking to make an informed |
| remember you (and your all-important web address)! | | | | decision, they want a real person to help them, and not |
| You will also want to check and see if the name | | | | a machine. The greatest enemy of the small business |
| already exists, and, if so-is it copyrighted? | | | | owner is voicemail. No matter how nice your message |
| 3) Finding Your Niche | | | | is, people won't leave a message if you don't answer! |
| Many people mistakenly think that offering everything | | | | Instead, consider using a cell phone as your primary |
| "under the sun" is the way to go. Instead, focus on a | | | | business line-it's cheaper than a business line through |
| particular target group. Ask yourself: "what is my niche | | | | the telephone company, and it allows you maximum |
| market for my product? Who am I trying to reach?" | | | | portability so that you ALWAYS have your business |
| For example, our company's niche market is mostly | | | | life line with you. |
| female, who are family-oriented and comfortable with | | | | Make no mistake-running a business is hard work! But |
| online shopping. We can further define this niche as: | | | | many people find great satisfaction in working from |
| moms, grandmas, married women, single women, etc. | | | | home and running a small business. They are working |
| When you try to be "all things to all peoples", the | | | | for themselves, and they have more time with their |
| chances of success are not as likely as finding out | | | | family. Good luck to you! |